Eastern Bank Has $2.41 Million Stake in Deere & Company $DE

Key Points

• Eastern Bank increased its stake in Deere & Company by 21.1%, holding a total of 4,739 shares valued at approximately $2.41 million.
• Institutional investors own 68.58% of Deere's shares, with several hedge funds making significant capital increases in recent quarters.
• Deere & Company announced a quarterly dividend of $1.62 per share, representing a yield of 1.5% with a payout ratio of 33.87%.

Eastern Bank grew its stake in Deere & Company (NYSE:DE - Free Report) by 21.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,739 shares of the industrial products company's stock after purchasing an additional 826 shares during the period. Eastern Bank's holdings in Deere & Company were worth $2,410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after acquiring an additional 5,053 shares in the last quarter. OLD National Bancorp IN boosted its position in shares of Deere & Company by 2.6% during the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company's stock valued at $12,204,000 after acquiring an additional 610 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after acquiring an additional 798 shares in the last quarter. Providence Capital Advisors LLC boosted its position in shares of Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after acquiring an additional 303 shares in the last quarter. Finally, Bragg Financial Advisors Inc boosted its position in shares of Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after acquiring an additional 813 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, October 4th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research report on Tuesday, August 19th. Robert W. Baird reduced their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. DA Davidson dropped their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Finally, Oppenheimer dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $513.88.

Deere & Company Stock Performance

Shares of DE opened at $446.76 on Friday. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The firm has a fifty day simple moving average of $479.15 and a 200 day simple moving average of $488.39. The stock has a market capitalization of $120.77 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.87 and a beta of 1.02. 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 announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping 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 earnings per share. The firm's revenue was down 9.0% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.5%. Deere & Company's dividend payout ratio is presently 33.87%.

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.

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