Washington Trust Bank Acquires 569 Shares of Deere & Company $DE

Washington Trust Bank increased its holdings in Deere & Company (NYSE:DE) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,473 shares of the industrial products company’s stock after buying an additional 569 shares during the quarter. Deere & Company accounts for about 1.3% of Washington Trust Bank’s investment portfolio, making the stock its 25th largest position. Washington Trust Bank’s holdings in Deere & Company were worth $14,987,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company during the 2nd quarter valued at about $25,000. Activest Wealth Management grew its stake in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Deere & Company during the first quarter valued at $29,000. Cornerstone Planning Group LLC increased its holdings in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 36 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company in the 2nd quarter worth $38,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research report on Tuesday, August 19th. Wolfe Research reduced their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Price Performance

Deere & Company stock opened at $473.91 on Thursday. 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 $128.11 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. The firm has a 50-day moving average of $466.41 and a two-hundred day moving average of $490.01. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The company 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%.Deere & Company’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.29 earnings per share. On average, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Deere & Company 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.