Coastline Trust Co Decreases Stock Position in Deere & Company (NYSE:DE)

Coastline Trust Co cut its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 38.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,280 shares of the industrial products company's stock after selling 2,040 shares during the period. Coastline Trust Co's holdings in Deere & Company were worth $1,369,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mattern Wealth Management LLC increased its holdings in Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company's stock worth $786,000 after purchasing an additional 25 shares during the period. Carret Asset Management LLC grew its position in shares of Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company's stock worth $3,401,000 after buying an additional 25 shares in the last quarter. Round Rock Advisors LLC increased its stake in shares of Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company's stock worth $522,000 after buying an additional 25 shares during the period. Centaurus Financial Inc. raised its holdings in Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company's stock valued at $433,000 after acquiring an additional 26 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. lifted its stake in Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company's stock worth $1,459,000 after acquiring an additional 26 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on shares of Deere & Company from $450.00 to $425.00 and set an "overweight" rating on the stock in a research report on Monday, August 26th. Oppenheimer cut their price target on Deere & Company from $465.00 to $448.00 and set an "outperform" rating on the stock in a research note on Monday, July 22nd. Truist Financial upped their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Hsbc Global Res lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. Finally, HSBC cut Deere & Company from a "buy" rating to a "hold" rating in a research note on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of "Hold" and an average target price of $420.69.

Deere & Company Stock Performance

DE stock traded up $4.31 during trading on Friday, hitting $398.95. The company had a trading volume of 1,168,176 shares, compared to its average volume of 1,431,512. The firm has a market cap of $109.15 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a 50-day moving average price of $404.03 and a 200-day moving average price of $385.69. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company's revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.20 EPS. On average, analysts expect that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company's dividend payout ratio (DPR) is 20.06%.

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.