Royal Fund Management LLC Sells 3,232 Shares of Deere & Company (NYSE:DE)

Royal Fund Management LLC reduced its position in Deere & Company (NYSE:DE) by 50.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,222 shares of the industrial products company’s stock after selling 3,232 shares during the period. Royal Fund Management LLC’s holdings in Deere & Company were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of DE. Wellington Management Group LLP grew its holdings in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC lifted its stake in Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after purchasing an additional 31,459 shares in the last quarter. FMR LLC boosted its holdings in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Legal & General Group Plc grew its position in shares of Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after purchasing an additional 60,255 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after purchasing an additional 158,732 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 4.0 %

Shares of DE opened at $456.57 on Tuesday. The firm has a market cap of $124.35 billion, a P/E ratio of 17.83, a PEG ratio of 2.81 and a beta of 0.98. The stock’s 50 day moving average is $431.48 and its two-hundred day moving average is $402.53. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.26 EPS. Analysts predict that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Oppenheimer raised their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Truist Financial raised their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $442.83.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.