Sanibel Captiva Trust Company Inc. Trims Position in Deere & Company (NYSE:DE)

Sanibel Captiva Trust Company Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 35.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,691 shares of the industrial products company’s stock after selling 3,103 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Deere & Company were worth $2,375,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DE. BlueCrest Capital Management Ltd increased its holdings in shares of Deere & Company by 3.5% during the 4th quarter. BlueCrest Capital Management Ltd now owns 2,214 shares of the industrial products company’s stock valued at $885,000 after purchasing an additional 75 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in Deere & Company by 0.8% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 197,267 shares of the industrial products company’s stock worth $78,881,000 after acquiring an additional 1,573 shares in the last quarter. Fort Sheridan Advisors LLC increased its holdings in Deere & Company by 10.9% in the 4th quarter. Fort Sheridan Advisors LLC now owns 9,916 shares of the industrial products company’s stock worth $3,965,000 after acquiring an additional 972 shares in the last quarter. Oxford Financial Group LTD. LLC increased its holdings in Deere & Company by 2.9% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after acquiring an additional 51 shares in the last quarter. Finally, Studio Investment Management LLC increased its holdings in Deere & Company by 13.6% in the 4th quarter. Studio Investment Management LLC now owns 6,210 shares of the industrial products company’s stock worth $2,483,000 after acquiring an additional 743 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DE has been the subject of several recent analyst reports. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley cut their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Citigroup lifted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus target price of $416.94.

Deere & Company Trading Up 0.1 %

Shares of DE stock opened at $405.85 on Friday. The company’s 50-day moving average price is $384.91 and its 200-day moving average price is $385.30. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a market cap of $111.84 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.36 and a beta of 0.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.20 EPS. As a group, equities analysts predict that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

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.