Central Pacific Bank Trust Division Decreases Position in Deere & Company (NYSE:DE)

Central Pacific Bank Trust Division lessened its stake in Deere & Company (NYSE:DE) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,200 shares of the industrial products company’s stock after selling 800 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Deere & Company were worth $3,051,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of DE. Wellington Management Group LLP raised its position in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. FMR LLC raised its holdings in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after acquiring an additional 852,885 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares during the period. Finally, Stockbridge Partners LLC grew its position in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.9 %

Shares of DE traded up $3.83 during trading hours on Friday, hitting $422.01. The company had a trading volume of 392,802 shares, compared to its average volume of 683,754. The firm has a market cap of $114.61 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.91 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The stock’s 50 day moving average price is $427.09 and its 200 day moving average price is $398.30. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the company posted $8.26 earnings per share. The business’s revenue was down 32.8% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.54%. Deere & Company’s payout ratio is presently 25.31%.

Wall Street Analyst Weigh In

Several brokerages have commented on DE. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Citigroup raised their price target on shares of Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Finally, Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $443.94.

Deere & Company 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.