WASHINGTON TRUST Co Buys 77 Shares of Deere & Company (NYSE:DE)

WASHINGTON TRUST Co boosted its stake in shares of Deere & Company (NYSE:DE) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,475 shares of the industrial products company’s stock after acquiring an additional 77 shares during the quarter. WASHINGTON TRUST Co’s holdings in Deere & Company were worth $3,389,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DE. Briaud Financial Planning Inc bought a new position in shares of Deere & Company during the third quarter valued at approximately $25,000. Retirement Group LLC grew its stake in shares of Deere & Company by 264.7% during the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after buying an additional 45 shares during the last quarter. ZRC Wealth Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Worth Asset Management LLC bought a new position in shares of Deere & Company during the first quarter valued at approximately $28,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Deere & Company during the third quarter valued at approximately $37,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 0.4 %

Shares of DE traded up $1.73 during midday trading on Thursday, hitting $410.87. 705,260 shares of the company’s stock traded hands, compared to its average volume of 1,519,522. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The firm’s fifty day moving average is $379.82 and its 200-day moving average is $381.32. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $114.37 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the prior year, the business posted $6.55 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio is presently 17.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $380.00 to $385.00 and gave the stock a “neutral” rating in a research note on Monday, December 4th. Morgan Stanley began coverage on Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Stifel Nicolaus dropped their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Wells Fargo & Company dropped their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $431.69.

Deere & Company Profile

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.