Central Pacific Bank Trust Division Sells 200 Shares of Deere & Company $DE

Central Pacific Bank Trust Division cut its holdings in shares of Deere & Company (NYSE:DE) by 2.9% during the 2nd quarter, Holdings Channel reports. The firm owned 6,800 shares of the industrial products company’s stock after selling 200 shares during the period. Central Pacific Bank Trust Division’s holdings in Deere & Company were worth $3,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after acquiring an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Deere & Company by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock valued at $852,254,000 after acquiring an additional 35,075 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Deere & Company by 2.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company’s stock valued at $754,500,000 after acquiring an additional 48,941 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake 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 valued at $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on DE shares. DA Davidson decreased their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Bank of America lifted their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, Raymond James Financial raised their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $520.87.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $471.35 on Friday. Deere & Company has a fifty-two week low of $386.42 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a market capitalization of $127.42 billion, a P/E ratio of 24.64, a P/E/G ratio of 3.06 and a beta of 1.00. The company’s 50 day moving average price is $497.38 and its two-hundred day moving average price is $490.24.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business posted $6.29 earnings per share. The company’s quarterly revenue was down 9.0% on a year-over-year basis. On average, equities 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 declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 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 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is 33.87%.

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.