Garrison Financial Corp cut its position in shares of Deere & Co. (NYSE:DE) by 5.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 24,857 shares of the company’s stock after selling 1,405 shares during the period. Garrison Financial Corp’s holdings in Deere & Co. were worth $2,014,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Washington Trust Bank boosted its position in shares of Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Deere & Co. during the first quarter worth $142,000. Exane Derivatives boosted its position in shares of Deere & Co. by 4.6% in the first quarter. Exane Derivatives now owns 1,909 shares of the company’s stock worth $147,000 after buying an additional 84 shares in the last quarter. Iowa State Bank purchased a new position in shares of Deere & Co. during the second quarter worth $151,000. Finally, First National Bank & Trust Co. of Newtown purchased a new position in shares of Deere & Co. during the second quarter worth $202,000. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Co. (NYSE:DE) traded down 0.27% during mid-day trading on Thursday, reaching $83.86. 2,724,513 shares of the company’s stock were exchanged. The company has a 50-day moving average of $82.91 and a 200-day moving average of $81.78. Deere & Co. has a 52-week low of $70.16 and a 52-week high of $88.63. The stock has a market cap of $26.37 billion, a price-to-earnings ratio of 16.81 and a beta of 1.05.
Deere & Co. (NYSE:DE) last released its quarterly earnings data on Friday, August 19th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.61. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The firm had revenue of $6.72 billion for the quarter. During the same period last year, the business posted $1.53 earnings per share. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. Equities research analysts anticipate that Deere & Co. will post $4.30 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Wednesday, September 28th. Deere & Co.’s dividend payout ratio (DPR) is 48.10%.
A number of equities analysts have recently weighed in on DE shares. Piper Jaffray Cos. lifted their price target on shares of Deere & Co. from $67.00 to $70.00 and gave the stock an “underweight” rating in a research report on Monday, August 22nd. Vetr cut shares of Deere & Co. from a “hold” rating to a “sell” rating and set a $77.39 price target on the stock. in a research report on Monday, July 11th. Argus lifted their price target on shares of Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Goldman Sachs Group Inc. raised shares of Deere & Co. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $87.00 to $105.00 in a research report on Thursday, June 2nd. Finally, Morgan Stanley reissued a “sell” rating on shares of Deere & Co. in a research report on Thursday, June 30th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Deere & Co. currently has a consensus rating of “Hold” and an average target price of $82.40.
About Deere & Co.
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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