WASHINGTON TRUST Co Sells 1,267 Shares of Deere & Company (NYSE:DE)

WASHINGTON TRUST Co decreased its holdings in Deere & Company (NYSE:DE) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,113 shares of the industrial products company’s stock after selling 1,267 shares during the period. WASHINGTON TRUST Co’s holdings in Deere & Company were worth $3,014,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DE. Creative Planning grew its holdings in Deere & Company by 2.1% during the 3rd quarter. Creative Planning now owns 75,462 shares of the industrial products company’s stock valued at $31,493,000 after buying an additional 1,555 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Deere & Company by 0.9% during the third quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock worth $1,293,000 after acquiring an additional 27 shares during the last quarter. Good Life Advisors LLC grew its stake in Deere & Company by 12.2% during the third quarter. Good Life Advisors LLC now owns 3,457 shares of the industrial products company’s stock valued at $1,443,000 after acquiring an additional 376 shares in the last quarter. Cardinal Capital Management increased its holdings in Deere & Company by 1.0% in the 3rd quarter. Cardinal Capital Management now owns 27,475 shares of the industrial products company’s stock valued at $11,506,000 after acquiring an additional 275 shares during the last quarter. Finally, Trust Co. of Vermont lifted its stake in Deere & Company by 3.7% in the 3rd quarter. Trust Co. of Vermont now owns 21,102 shares of the industrial products company’s stock worth $8,806,000 after purchasing an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Oppenheimer increased their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $448.72.

Deere & Company Trading Up 3.0 %

Shares of NYSE DE opened at $480.17 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The company has a market cap of $130.77 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.98. The business’s 50 day moving average price is $446.23 and its 200-day moving average price is $415.49.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. On average, sell-side analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.35%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s payout ratio is 25.31%.

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.