Coastline Trust Co Sells 2,040 Shares of Deere & Company (NYSE:DE)

Coastline Trust Co decreased its position in shares of Deere & Company (NYSE:DE) by 38.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,280 shares of the industrial products company’s stock after selling 2,040 shares during the quarter. Coastline Trust Co’s holdings in Deere & Company were worth $1,369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. M&G Plc bought a new stake in Deere & Company during the 1st quarter valued at $2,008,000. First Foundation Advisors boosted its position in Deere & Company by 2.3% during the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 28 shares in the last quarter. Spirepoint Private Client LLC purchased a new position in Deere & Company in the first quarter valued at about $308,000. TIAA Trust National Association raised its holdings in Deere & Company by 2.3% in the first quarter. TIAA Trust National Association now owns 14,216 shares of the industrial products company’s stock worth $5,839,000 after purchasing an additional 326 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Deere & Company by 428.6% during the first quarter. Ontario Teachers Pension Plan Board now owns 7,866 shares of the industrial products company’s stock valued at $3,231,000 after buying an additional 6,378 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on DE. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Bank of America upped their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial boosted their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Up 1.1 %

DE stock opened at $398.95 on Friday. The company has a market capitalization of $109.15 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The firm’s fifty day simple moving average is $404.03 and its 200-day simple moving average is $385.69. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the firm posted $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s payout ratio is currently 20.06%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.