Greenleaf Trust Acquires 571 Shares of Deere & Company (NYSE:DE)

Greenleaf Trust raised its position in shares of Deere & Company (NYSE:DE - Free Report) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,331 shares of the industrial products company's stock after purchasing an additional 571 shares during the quarter. Greenleaf Trust's holdings in Deere & Company were worth $10,012,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $1,244,094,000. GAMMA Investing LLC increased its position in Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Deere & Company in the fourth quarter worth $541,437,000. Price T Rowe Associates Inc. MD increased its position in Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Finally, FMR LLC increased its position in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 1.4%

Shares of NYSE DE traded down $7.03 during mid-day trading on Friday, reaching $512.17. The company had a trading volume of 1,046,929 shares, compared to its average volume of 1,346,332. The business's 50-day moving average is $510.73 and its 200-day moving average is $478.07. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The stock has a market cap of $138.71 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.53 earnings per share. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is presently 31.35%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Citigroup reduced their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, UBS Group reduced their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average target price of $515.19.

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.