Trust Co. of Vermont Grows Stake in Deere & Company (NYSE:DE)

Trust Co. of Vermont lifted its stake in shares of Deere & Company (NYSE:DE) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,416 shares of the industrial products company’s stock after purchasing an additional 139 shares during the period. Trust Co. of Vermont’s holdings in Deere & Company were worth $1,892,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Deere & Company by 0.4% during the first quarter. BlackRock Inc. now owns 18,523,593 shares of the industrial products company’s stock worth $2,960,812,000 after acquiring an additional 78,890 shares during the last quarter. FMR LLC boosted its holdings in Deere & Company by 13.6% in the 1st quarter. FMR LLC now owns 8,713,051 shares of the industrial products company’s stock valued at $1,392,694,000 after purchasing an additional 1,043,039 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Deere & Company by 67.0% in the 1st quarter. JPMorgan Chase & Co. now owns 3,733,015 shares of the industrial products company’s stock valued at $596,683,000 after purchasing an additional 1,497,433 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Deere & Company by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock valued at $544,229,000 after purchasing an additional 244,266 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Deere & Company by 0.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,089,066 shares of the industrial products company’s stock valued at $493,755,000 after purchasing an additional 13,986 shares during the last quarter. 68.02% of the stock is owned by institutional investors and hedge funds.

In other news, COO John C. May II sold 16,468 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $163.21, for a total value of $2,687,742.28. Following the transaction, the chief operating officer now directly owns 60,550 shares in the company, valued at approximately $9,882,365.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John C. May II sold 5,228 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the transaction, the chief operating officer now owns 49,310 shares in the company, valued at $8,382,700. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Several equities analysts have weighed in on DE shares. JPMorgan Chase & Co. lowered shares of Deere & Company from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $154.00 to $132.00 in a report on Tuesday, May 14th. Zacks Investment Research lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Deutsche Bank decreased their target price on shares of Deere & Company from $159.00 to $148.00 and set a “hold” rating on the stock in a report on Monday, May 20th. Jefferies Financial Group upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and boosted their target price for the company from $150.00 to $190.00 in a report on Monday, June 24th. Finally, Stifel Nicolaus decreased their target price on shares of Deere & Company from $180.00 to $171.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Deere & Company has an average rating of “Hold” and an average price target of $168.61.

Shares of DE stock traded down $3.40 during trading hours on Wednesday, hitting $149.38. The company had a trading volume of 59,955 shares, compared to its average volume of 1,754,032. The business’s fifty day moving average is $164.13. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $171.22. The firm has a market capitalization of $50.31 billion, a PE ratio of 15.98, a PEG ratio of 1.95 and a beta of 1.10.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.57 by ($0.05). Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The company had revenue of $10.27 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same quarter in the prior year, the company posted $3.14 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 10.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, June 28th were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.04 annualized dividend and a dividend yield of 2.04%. Deere & Company’s dividend payout ratio is currently 32.37%.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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