RMR Wealth Builders Grows Stake in Deere & Company (NYSE:DE)

RMR Wealth Builders increased its holdings in Deere & Company (NYSE:DE) by 32.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,686 shares of the industrial products company’s stock after buying an additional 417 shares during the period. RMR Wealth Builders’ holdings in Deere & Company were worth $674,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. increased its position in shares of Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after acquiring an additional 5,485 shares in the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of Deere & Company by 6.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after acquiring an additional 900 shares during the last quarter. Summit Asset Management LLC boosted its stake in shares of Deere & Company by 24.1% in the 4th quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 200 shares in the last quarter. Finally, Centric Wealth Management bought a new position in shares of Deere & Company during the 3rd quarter valued at $2,640,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE DE traded down $0.25 during trading on Wednesday, reaching $405.32. 640,327 shares of the company traded hands, compared to its average volume of 1,451,911. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The stock has a market capitalization of $112.82 billion, a PE ratio of 11.80, a P/E/G ratio of 1.51 and a beta of 1.04. The firm has a 50 day simple moving average of $393.13 and a 200-day simple moving average of $384.23.

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

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.45%. Deere & Company’s dividend payout ratio is currently 17.12%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DE. Evercore ISI upped their price target on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. raised their price target on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Stifel Nicolaus dropped their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Finally, Citigroup cut their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Ten 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 stock currently has an average rating of “Hold” and a consensus target price of $433.28.

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.