Plimoth Trust Co. LLC Sells 808 Shares of Deere & Company (NYSE:DE)

Plimoth Trust Co. LLC lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,182 shares of the industrial products company's stock after selling 808 shares during the period. Plimoth Trust Co. LLC's holdings in Deere & Company were worth $2,902,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Wealthspan Partners LLC increased its stake in shares of Deere & Company by 1.2% during the 1st quarter. Wealthspan Partners LLC now owns 28,845 shares of the industrial products company's stock worth $13,538,000 after purchasing an additional 339 shares during the last quarter. Sterling Investment Counsel LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth approximately $626,000. TCI Wealth Advisors Inc. increased its stake in shares of Deere & Company by 2.5% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,305 shares of the industrial products company's stock worth $613,000 after purchasing an additional 32 shares during the last quarter. Bigelow Investment Advisors LLC increased its stake in shares of Deere & Company by 2.2% during the 1st quarter. Bigelow Investment Advisors LLC now owns 1,566 shares of the industrial products company's stock worth $735,000 after purchasing an additional 33 shares during the last quarter. Finally, PSI Advisors LLC increased its stake in shares of Deere & Company by 19.1% during the 1st quarter. PSI Advisors LLC now owns 2,305 shares of the industrial products company's stock worth $1,082,000 after purchasing an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

NYSE:DE traded down $4.32 during trading hours on Friday, hitting $520.66. The stock had a trading volume of 1,387,433 shares, compared to its average volume of 1,390,966. The company has a 50 day simple moving average of $493.91 and a two-hundred day simple moving average of $470.14. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The firm has a market capitalization of $141.01 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 3.33 and a beta of 1.09.

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

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DE shares. Raymond James Financial raised their price target on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Morgan Stanley raised their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Finally, Truist Financial raised their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of "Hold" and a consensus price target 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.