TI Trust Inc. Reduces Stake in Deere & Company (NYSE:DE)

TI Trust Inc. trimmed its stake in Deere & Company (NYSE:DE) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,750 shares of the industrial products company’s stock after selling 350 shares during the quarter. Deere & Company makes up 1.0% of TI Trust Inc.’s holdings, making the stock its 27th biggest position. TI Trust Inc.’s holdings in Deere & Company were worth $1,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Deere & Company by 98,818.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,922,881 shares of the industrial products company’s stock valued at $6,451,792,000 after buying an additional 15,906,784 shares in the last quarter. Providence Capital Advisors LLC lifted its stake in shares of Deere & Company by 41,880.9% during the 1st quarter. Providence Capital Advisors LLC now owns 5,703,524 shares of the industrial products company’s stock valued at $13,814,000 after buying an additional 5,689,938 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Deere & Company by 104,373.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after buying an additional 3,216,801 shares in the last quarter. Norges Bank purchased a new stake in shares of Deere & Company during the 4th quarter valued at approximately $1,326,177,000. Finally, Altshuler Shaham Ltd lifted its stake in shares of Deere & Company by 193.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 936,581 shares of the industrial products company’s stock valued at $379,493,000 after buying an additional 616,893 shares in the last quarter. 66.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Stifel Nicolaus dropped their price target on shares of Deere & Company from $493.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday, August 21st. Canaccord Genuity Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and dropped their price target for the company from $530.00 to $400.00 in a research note on Friday, September 22nd. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $390.00 to $380.00 and set a “neutral” rating on the stock in a report on Monday, August 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Deere & Company from $398.00 to $407.00 and gave the stock a “hold” rating in a report on Monday, August 21st. Finally, Oppenheimer decreased their target price on shares of Deere & Company from $467.00 to $458.00 and set an “outperform” rating on the stock in a report on Monday, August 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $447.93.

Deere & Company Price Performance

Shares of NYSE:DE traded up $4.85 during trading on Wednesday, reaching $379.81. The company had a trading volume of 282,448 shares, compared to its average volume of 1,547,076. The company has a fifty day moving average of $383.67 and a two-hundred day moving average of $394.34. The stock has a market capitalization of $109.39 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 1.65.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, August 18th. The industrial products company reported $10.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.22 by $1.98. Deere & Company had a net margin of 16.36% and a return on equity of 46.15%. The company had revenue of $14.28 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter in the prior year, the company earned $6.16 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 33.96 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Stockholders of record on Friday, September 29th were paid a $1.35 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio is 15.96%.

Insider Activity

In other news, insider Ryan D. Campbell sold 6,073 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $379.19, for a total value of $2,302,820.87. Following the completion of the sale, the insider now owns 18,519 shares of the company’s stock, valued at approximately $7,022,219.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Deere & Company Profile

Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.