Deere & Co. (DE) Position Raised by Burke & Herbert Bank & Trust Co.
Burke & Herbert Bank & Trust Co. raised its position in Deere & Co. (NYSE:DE) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,246 shares of the company’s stock after buying an additional 336 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Deere & Co. were worth $344,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in shares of Deere & Co. by 0.3% in the first quarter. State Street Corp now owns 12,081,309 shares of the company’s stock valued at $930,132,000 after buying an additional 38,519 shares during the last quarter. Franklin Resources Inc. boosted its stake in Deere & Co. by 5.8% in the first quarter. Franklin Resources Inc. now owns 5,868,440 shares of the company’s stock valued at $451,811,000 after buying an additional 319,614 shares during the last quarter. Primecap Management Co. CA boosted its stake in Deere & Co. by 19.3% in the first quarter. Primecap Management Co. CA now owns 5,286,519 shares of the company’s stock valued at $407,009,000 after buying an additional 856,000 shares during the last quarter. Legal & General Group Plc boosted its stake in Deere & Co. by 0.3% in the first quarter. Legal & General Group Plc now owns 1,436,384 shares of the company’s stock valued at $110,619,000 after buying an additional 3,974 shares during the last quarter. Finally, Thomaspartners Inc. boosted its stake in Deere & Co. by 4.3% in the first quarter. Thomaspartners Inc. now owns 1,343,887 shares of the company’s stock valued at $103,466,000 after buying an additional 55,848 shares during the last quarter. 70.62% of the stock is owned by hedge funds and other institutional investors.
Deere & Co. (NYSE:DE) remained flat at $85.35 during mid-day trading on Monday. 2,679,564 shares of the company were exchanged. Deere & Co. has a 12-month low of $70.16 and a 12-month high of $88.63. The stock’s 50-day moving average price is $83.29 and its 200 day moving average price is $81.82. The firm has a market capitalization of $26.84 billion, a PE ratio of 17.10 and a beta of 0.89.
Deere & Co. (NYSE:DE) last posted its quarterly earnings data on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.61. The business had revenue of $6.72 billion for the quarter. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. Equities analysts anticipate that Deere & Co. will post $4.30 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, September 30th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 annualized dividend and a yield of 2.81%. Deere & Co.’s dividend payout ratio is 48.10%.
Several research analysts have commented on DE shares. Vetr raised Deere & Co. from a “hold” rating to a “buy” rating and set a $80.57 price target on the stock in a research report on Monday, August 15th. Citigroup Inc. dropped their price objective on Deere & Co. from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Monday, August 22nd. Argus upped their price objective on Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $101.00 price objective on shares of Deere & Co. in a report on Thursday, August 25th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $70.00 price objective on shares of Deere & Co. in a report on Friday, August 19th. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Deere & Co. currently has a consensus rating of “Hold” and a consensus target price of $82.40.
Deere & Co. Company Profile
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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