Trust Co of Kansas Purchases 1,593 Shares of Deere & Company $DE

Trust Co of Kansas raised its holdings in shares of Deere & Company (NYSE:DE) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,879 shares of the industrial products company’s stock after buying an additional 1,593 shares during the period. Deere & Company comprises approximately 2.3% of Trust Co of Kansas’ investment portfolio, making the stock its 19th biggest position. Trust Co of Kansas’ holdings in Deere & Company were worth $5,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DE. Cerro Pacific Wealth Advisors LLC increased its stake in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after purchasing an additional 19 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in shares of Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the period. Root Financial Partners LLC boosted its stake in shares of Deere & Company by 2.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 19 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Deere & Company by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 20 shares during the last quarter. Finally, Family Legacy Inc. increased its stake in Deere & Company by 0.3% in the 4th quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock worth $3,675,000 after buying an additional 20 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 0.1%

Shares of Deere & Company stock opened at $583.80 on Monday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market cap of $157.59 billion, a P/E ratio of 33.08, a PEG ratio of 2.16 and a beta of 0.92. The firm’s 50 day moving average price is $572.86 and its 200-day moving average price is $546.09. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the prior year, the company posted $6.64 earnings per share. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 18.08 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Analysts Set New Price Targets

Several analysts have recently weighed in on DE shares. Oppenheimer reaffirmed an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. BMO Capital Markets increased their target price on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a research report on Wednesday, April 8th. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Finally, Truist Financial lowered their price target on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.