18,240 Shares in Deere & Company $DE Bought by Trust Co. of Vermont

Trust Co. of Vermont acquired a new position in Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 18,240 shares of the industrial products company’s stock, valued at approximately $11,570,000.

Several other large investors also recently modified their holdings of the business. Cary Street Partners Financial LLC raised its holdings in Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after acquiring an additional 1,086 shares in the last quarter. Baxter Bros Inc. acquired a new position in Deere & Company during the 2nd quarter worth $1,707,000. Global Retirement Partners LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth about $3,890,000. Spectrum Financial Alliance Ltd LLC increased its position in shares of Deere & Company by 55.8% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after purchasing an additional 30,553 shares during the last quarter. Finally, Westpac Banking Corp raised its stake in shares of Deere & Company by 78.6% in the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after purchasing an additional 3,047 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 1.4%

Shares of NYSE DE opened at $600.08 on Tuesday. The company has a market cap of $161.99 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock’s 50 day simple moving average is $603.76 and its 200 day simple moving average is $588.84.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.64 EPS. Equities research analysts expect that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is 36.71%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Robert W. Baird decreased their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Raymond James Financial reduced their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Citigroup lifted their target price on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. lowered their price target on Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a report on Friday. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.