Greenleaf Trust Raises Stock Holdings in Deere & Company (NYSE:DE)

Greenleaf Trust lifted its stake in Deere & Company (NYSE:DE - Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,331 shares of the industrial products company's stock after acquiring an additional 571 shares during the quarter. Greenleaf Trust's holdings in Deere & Company were worth $10,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in shares of Deere & Company by 2.4% in the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after acquiring an additional 22 shares during the period. First Bancorp Inc ME grew its stake in Deere & Company by 4.7% during the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after purchasing an additional 23 shares during the last quarter. World Equity Group Inc. increased its holdings in shares of Deere & Company by 4.5% in the first quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock valued at $244,000 after purchasing an additional 24 shares during the period. Coppell Advisory Solutions LLC increased its holdings in shares of Deere & Company by 2.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock valued at $432,000 after purchasing an additional 25 shares during the period. Finally, Glen Eagle Advisors LLC raised its stake in shares of Deere & Company by 0.9% in the fourth quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock worth $1,244,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

NYSE DE traded up $1.44 during mid-day trading on Wednesday, hitting $510.35. The stock had a trading volume of 1,152,349 shares, compared to its average volume of 1,353,076. The firm's 50 day moving average is $508.42 and its 200 day moving average is $476.69. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The stock has a market capitalization of $138.22 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 3.24 and a beta of 1.08. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during 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 company's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the business earned $8.53 earnings per share. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors 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 yield of 1.27%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DE. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Citigroup decreased their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. DA Davidson reiterated a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and a consensus 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.