Heritage Trust Co Has $1.76 Million Stock Position in Deere & Company (NYSE:DE)

Key Points

• Heritage Trust Co decreased its stake in Deere & Company by 61.7%, holding 3,754 shares worth $1.76 million after selling 6,046 shares in the latest quarter.
• Deere reported $6.64 earnings per share for the most recent quarter, significantly exceeding the consensus estimate of $5.72, despite a year-over-year revenue decrease of 17.9%.
• The company announced a quarterly dividend of $1.62, resulting in an annualized dividend yield of 1.3%, with a payout ratio of 31.35%.

Heritage Trust Co trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 61.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,754 shares of the industrial products company's stock after selling 6,046 shares during the quarter. Heritage Trust Co's holdings in Deere & Company were worth $1,762,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DE. Manchester Capital Management LLC raised its position in Deere & Company by 3.9% during the first quarter. Manchester Capital Management LLC now owns 1,852 shares of the industrial products company's stock valued at $869,000 after purchasing an additional 69 shares in the last quarter. Banco Santander S.A. boosted its position in shares of Deere & Company by 20.2% in the 1st quarter. Banco Santander S.A. now owns 17,705 shares of the industrial products company's stock worth $8,310,000 after purchasing an additional 2,979 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after purchasing an additional 798 shares in the last quarter. IFG Advisory LLC raised its holdings in Deere & Company by 18.3% in the 1st quarter. IFG Advisory LLC now owns 2,207 shares of the industrial products company's stock worth $1,036,000 after acquiring an additional 341 shares during the last quarter. Finally, TIAA Trust National Association raised its holdings in Deere & Company by 0.6% in the 1st quarter. TIAA Trust National Association now owns 15,295 shares of the industrial products company's stock worth $7,179,000 after acquiring an additional 97 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.6%

Shares of NYSE:DE traded up $3.17 during mid-day trading on Wednesday, reaching $511.75. The stock had a trading volume of 391,937 shares, compared to its average volume of 1,334,034. The firm has a market cap of $138.60 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 3.24 and a beta of 1.06. The firm has a 50 day simple moving average of $512.25 and a two-hundred day simple moving average of $488.25. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a twelve month low of $343.38 and a twelve month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $8.53 EPS. On average, research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Raymond James Financial upped their price objective on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Evercore ISI increased their price target on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. DA Davidson reaffirmed a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. Finally, Robert W. Baird raised their target price on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One 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. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and an average target price of $515.50.

Deere & Company 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.