Davis R M Inc. Sells 706 Shares of Deere & Company (NYSE:DE)

Davis R M Inc. lessened its holdings in Deere & Company (NYSE:DE) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. 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.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Pineridge Advisors LLC grew 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 buying an additional 58 shares during the last quarter. Fairscale Capital LLC purchased a new position in Deere & Company in the 2nd quarter worth $26,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the 3rd quarter worth about $32,000. Olistico Wealth LLC purchased a new stake in Deere & Company during the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR grew its stake in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 2.1 %

Shares of DE opened at $446.65 on Monday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $447.50. The stock has a market cap of $122.20 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The firm’s fifty day moving average is $406.99 and its two-hundred day moving average is $386.22. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings results 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 firm had revenue of $9.28 billion for 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 for the quarter was down 32.8% on a year-over-year basis. During the same period last year, the firm posted $8.26 earnings per share. Research analysts forecast that Deere & Company will post 21.31 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

DE has been the subject of a number of research reports. Oppenheimer lifted their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets began coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Truist Financial raised their target price on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a report on Friday. Barclays upped their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Thirteen 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 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.