TrustBank Acquires New Position in Deere & Company $DE

TrustBank acquired a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,470 shares of the industrial products company’s stock, valued at approximately $684,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Deere & Company by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after purchasing an additional 198,332 shares during the last quarter. Capital World Investors raised its position in shares of Deere & Company by 5.5% in the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock valued at $2,850,687,000 after purchasing an additional 322,582 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Deere & Company by 4.8% in the 4th quarter. Fisher Asset Management LLC now owns 2,853,156 shares of the industrial products company’s stock valued at $1,328,344,000 after purchasing an additional 131,138 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Deere & Company by 1,725.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after purchasing an additional 1,893,972 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Deere & Company by 1,199.8% in the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after purchasing an additional 1,721,239 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DE shares. Truist Financial decreased their price objective on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley raised their price target on shares of Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $550.00 to $560.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a research report on Wednesday, April 8th. Finally, Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $639.83.

Deere & Company Price Performance

NYSE:DE opened at $529.99 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The firm has a market cap of $143.16 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 1.84 and a beta of 0.96. The company has a 50 day moving average price of $574.42 and a 200-day moving average price of $541.18. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last posted its 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 during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $6.64 EPS. Equities research analysts forecast that Deere & Company will post 18.05 EPS for the current year.

Deere & Company Company Profile

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.