Davis R M Inc. Trims Stock Position in Deere & Company (NYSE:DE)

Davis R M Inc. lowered its holdings in Deere & Company (NYSE:DE) by 1.5% during the third quarter, Holdings Channel.com reports. The firm owned 46,444 shares of the industrial products company’s stock after selling 706 shares during the period. Davis R M Inc.’s holdings in Deere & Company were worth $19,382,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fairscale Capital LLC acquired a new position in Deere & Company during the second quarter worth $26,000. Pineridge Advisors LLC lifted its stake in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in Deere & Company during the 3rd quarter valued at about $32,000. Olistico Wealth LLC acquired a new position in Deere & Company in the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR grew its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $446.65 on Monday. The company has a market capitalization of $122.20 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. Deere & Company has a 52-week low of $340.20 and a 52-week high of $447.50. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average price of $406.99 and a 200 day moving average price of $386.22.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.26 EPS. Research analysts predict that Deere & Company will post 21.31 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.32%. Deere & Company’s dividend payout ratio is presently 22.97%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DE. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Oppenheimer raised their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial boosted their price target on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $431.61.

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.