Deere & Company (NYSE:DE) Shares Acquired by Royal Fund Management LLC

Royal Fund Management LLC lifted its position in shares of Deere & Company (NYSE:DE) by 99.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,454 shares of the industrial products company’s stock after purchasing an additional 3,223 shares during the quarter. Royal Fund Management LLC’s holdings in Deere & Company were worth $2,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tompkins Financial Corp grew its stake in Deere & Company by 2.6% in the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 25 shares during the period. Centaurus Financial Inc. grew its stake in Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after acquiring an additional 26 shares during the period. Field & Main Bank grew its stake in Deere & Company by 0.7% in the 1st quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after acquiring an additional 27 shares during the period. Range Financial Group LLC grew its stake in Deere & Company by 5.2% in the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 27 shares during the period. Finally, Cooper Financial Group grew its stake in Deere & Company by 2.4% in the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 1.2 %

NYSE:DE traded up $4.77 on Wednesday, reaching $405.05. 71,010 shares of the company’s stock were exchanged, compared to its average volume of 1,488,596. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $111.62 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The business has a fifty day moving average of $384.24 and a 200-day moving average of $385.16. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.20 earnings per share. As a group, analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 17.70%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Oppenheimer lowered their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Truist Financial reaffirmed a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, BMO Capital Markets assumed coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $410.50.

Deere & Company 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.