FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires Shares of 586 Deere & Company $DE

Key Points

• Farmers & Merchants Trust Co of Long Beach acquired 586 shares of Deere & Company valued at approximately $298,000 during the second quarter.
• Analysts have lowered target prices for Deere & Company, with the average target now at $518.06 and some ratings ranging from "Strong Buy" to "Hold."
• Deere & Company announced a quarterly dividend of $1.62, representing an annualized yield of 1.4%, to be paid on November 10th to shareholders of record by September 30th.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 586 shares of the industrial products company's stock, valued at approximately $298,000.

Other hedge funds have also bought and sold shares of the company. Activest Wealth Management increased its position 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 during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company during the first quarter valued at $29,000. Cornerstone Planning Group LLC boosted its stake 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 during the period. Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company during the second quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the second quarter valued at $39,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DE. Daiwa Capital Markets lowered their target price on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, September 25th. Robert W. Baird lowered their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. DA Davidson lowered their target price 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. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. Finally, Oppenheimer lowered their target price 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, nine have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, Deere & Company currently has an average rating of "Moderate Buy" and an average target price of $518.06.

Deere & Company Stock Up 0.2%

NYSE:DE opened at $465.09 on Tuesday. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a 50-day moving average of $489.05 and a 200 day moving average of $489.85. The firm has a market cap of $125.73 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the firm earned $6.29 earnings per share. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued 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 payout ratio is currently 33.87%.

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.

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