Deere & Company $DE Holdings Trimmed by Whittier Trust Co.

Key Points

• Whittier Trust Co. reduced its shares in Deere & Company by 2.8%, ending the second quarter with 22,343 shares valued at approximately $11.36 million.
• Deere & Company reported earnings of $4.75 per share for the last quarter, outperforming analyst expectations, although its revenue fell by 9.0% compared to the previous year.
• The company declared a quarterly dividend of $1.62, to be paid on November 10th, resulting in an annualized yield of 1.4%.

Whittier Trust Co. trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,343 shares of the industrial products company's stock after selling 647 shares during the period. Whittier Trust Co.'s holdings in Deere & Company were worth $11,361,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DE. Brighton Jones LLC boosted its stake in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 1,278 shares during the period. GAMMA Investing LLC lifted its position in shares of Deere & Company by 30.6% in the first quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company's stock worth $1,753,000 after buying an additional 876 shares during the last quarter. Advisor Resource Council acquired a new position in Deere & Company during the 1st quarter worth $270,000. Continuum Advisory LLC lifted its position in Deere & Company by 63.5% during the 1st quarter. Continuum Advisory LLC now owns 188 shares of the industrial products company's stock worth $88,000 after acquiring an additional 73 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Deere & Company by 2.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 16,468 shares of the industrial products company's stock worth $7,729,000 after acquiring an additional 344 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Down 0.5%

Deere & Company stock opened at $460.01 on Wednesday. The company has a market cap of $124.35 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a fifty day simple moving average of $471.43 and a 200 day simple moving average of $487.92. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results 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 business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.29 earnings per share. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. DA Davidson dropped their price objective on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Citigroup reduced their target price on shares of Deere & Company from $525.00 to $515.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 7th. Robert W. Baird reduced their target price on shares of Deere & Company from $488.00 to $467.00 and set a "neutral" rating on the stock in a research report on Monday, October 13th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $517.35.

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.

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