Davis R M Inc. Trims Stock Holdings in Deere & Company $DE

Davis R M Inc. decreased its holdings in shares of Deere & Company (NYSE:DE) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,948 shares of the industrial products company’s stock after selling 2,696 shares during the quarter. Davis R M Inc.’s holdings in Deere & Company were worth $27,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in DE. Anchyra Partners LLC raised its stake in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 17 shares during the period. William B. Walkup & Associates Inc. boosted its stake in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after purchasing an additional 17 shares during the period. Advisortrust Partners LLC grew its holdings in Deere & Company by 2.0% during the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after buying an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its holdings in Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 3.5%

Shares of NYSE DE opened at $607.63 on Thursday. The stock has a market capitalization of $164.02 billion, a P/E ratio of 34.43, a PEG ratio of 2.48 and a beta of 0.89. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The firm’s 50 day simple moving average is $583.01 and its two-hundred day simple moving average is $574.70. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the business posted $6.64 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 18.27 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DE shares. Truist Financial raised their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Citigroup increased their target price on shares of Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Finally, Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $642.98.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.