TrustBank Purchases New Shares in Deere & Company $DE

TrustBank purchased a new stake in Deere & Company (NYSE:DE) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,470 shares of the industrial products company’s stock, valued at approximately $684,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Roundview Capital LLC grew its stake in Deere & Company by 11.9% in the 4th quarter. Roundview Capital LLC now owns 4,826 shares of the industrial products company’s stock valued at $2,247,000 after acquiring an additional 514 shares during the period. Malaga Cove Capital LLC grew its stake in Deere & Company by 13.6% in the 4th quarter. Malaga Cove Capital LLC now owns 3,626 shares of the industrial products company’s stock valued at $1,688,000 after acquiring an additional 433 shares during the period. Unison Asset Management LLC grew its stake in Deere & Company by 22.1% in the 4th quarter. Unison Asset Management LLC now owns 6,957 shares of the industrial products company’s stock valued at $3,270,000 after acquiring an additional 1,260 shares during the period. Integrity Alliance LLC. grew its stake in Deere & Company by 32.7% in the 4th quarter. Integrity Alliance LLC. now owns 8,892 shares of the industrial products company’s stock valued at $4,140,000 after acquiring an additional 2,189 shares during the period. Finally, AlphaQuest LLC grew its stake in Deere & Company by 14.5% in the 4th quarter. AlphaQuest LLC now owns 2,987 shares of the industrial products company’s stock valued at $1,391,000 after acquiring an additional 378 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $529.99 on Wednesday. The company’s 50-day moving average price is $574.42 and its 200-day moving average price is $541.18. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market cap of $143.16 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.84 and a beta of 0.96. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $11.78 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.64 EPS. On average, sell-side analysts forecast that Deere & Company will post 18.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a research note on Wednesday, April 8th. DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. UBS Group raised their price target on shares of Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, BMO Capital Markets raised their price target on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $639.83.

About Deere & Company

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.