Greenleaf Trust Has $8.54 Million Stock Holdings in Deere & Company $DE

Key Points

• Greenleaf Trust reduced its holdings in Deere & Company by 21.3%, now owning 16,798 shares valued at approximately $8.54 million.
• Deere & Company reported $4.75 earnings per share for the last quarter, exceeding the consensus estimate, despite a 9% decline in quarterly revenue compared to the previous year.
• The company will pay a quarterly dividend of $1.62 per share on November 10, reflecting a 1.4% yield based on its annualized dividend payout ratio of 33.87%.

Greenleaf Trust trimmed its position in Deere & Company (NYSE:DE - Free Report) by 21.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,798 shares of the industrial products company's stock after selling 4,533 shares during the quarter. Greenleaf Trust's holdings in Deere & Company were worth $8,542,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DE. Activest Wealth Management increased its holdings in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in Deere & Company during the first quarter worth $29,000. Cornerstone Planning Group LLC boosted its position in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares during the period. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company in the second quarter valued at $38,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the second quarter valued at about $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.2%

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

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

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio is currently 33.87%.

Wall Street Analyst Weigh In

Several analysts recently commented on DE shares. Evercore ISI set a $491.00 target price on shares of Deere & Company in a report on Tuesday, August 19th. Robert W. Baird reduced their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Truist Financial decreased their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a report on Monday, August 18th. Finally, Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $518.06.

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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