TIAA Trust National Association Sells 523 Shares of Deere & Company $DE

TIAA Trust National Association reduced its position in shares of Deere & Company (NYSE:DE) by 3.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,772 shares of the industrial products company’s stock after selling 523 shares during the quarter. TIAA Trust National Association’s holdings in Deere & Company were worth $7,511,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new position in Deere & Company in the 2nd quarter worth approximately $25,000. Activest Wealth Management increased its holdings in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Deere & Company in the first quarter worth $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company during the second quarter valued at $38,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $461.41 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a 50-day simple moving average of $467.74 and a two-hundred day simple moving average of $489.95. The firm has a market capitalization of $124.73 billion, a PE ratio of 24.12, a P/E/G ratio of 3.05 and a beta of 1.02. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78.

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

Deere & Company Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent analyst reports. Wolfe Research decreased their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Oppenheimer reduced their price target 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. Royal Bank Of Canada assumed coverage on shares of Deere & Company in a research report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price objective on the stock. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a research report on Tuesday, October 28th. Finally, Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $518.72.

About Deere & Company

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.