Royal Fund Management LLC Has $1.34 Million Stake in Deere & Company (NYSE:DE)

Royal Fund Management LLC boosted its holdings in Deere & Company (NYSE:DE) by 2.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,344 shares of the industrial products company’s stock after acquiring an additional 82 shares during the period. Royal Fund Management LLC’s holdings in Deere & Company were worth $1,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of DE. Briaud Financial Planning Inc bought a new position in Deere & Company in the third quarter valued at approximately $25,000. Rakuten Securities Inc. acquired a new position in Deere & Company during the fourth quarter worth about $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company in the fourth quarter worth about $29,000. Bfsg LLC bought a new position in shares of Deere & Company in the fourth quarter worth about $30,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Wells Fargo & Company cut their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Morgan Stanley initiated coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price for the company. Finally, Melius cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Trading Up 1.3 %

Shares of DE traded up $5.00 during trading hours on Friday, hitting $400.96. 1,626,960 shares of the stock were exchanged, compared to its average volume of 1,337,641. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The business has a 50-day moving average of $391.45 and a 200-day moving average of $383.91. The firm has a market capitalization of $111.61 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $6.55 earnings per share. On average, research analysts expect that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

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.