Deere & Company $DE Shares Acquired by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust grew its position in Deere & Company (NYSE:DE) by 11.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,479 shares of the industrial products company’s stock after acquiring an additional 157 shares during the period. Bank of Jackson Hole Trust’s holdings in Deere & Company were worth $752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DE. Nuveen LLC purchased a new stake in shares of Deere & Company during the first quarter worth about $571,073,000. TD Asset Management Inc increased its stake in shares of Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after purchasing an additional 410,636 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after purchasing an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $468.59 on Wednesday. The firm has a 50 day simple moving average of $469.21 and a 200-day simple moving average of $489.60. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a market cap of $126.67 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 3.08 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the prior year, the company posted $6.29 EPS. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Oppenheimer cut their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Citigroup cut their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Jefferies Financial Group dropped their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada initiated coverage on shares of Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $518.72.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.