Deere & Company (NYSE:DE) Stake Reduced by Regency Capital Management Inc. DE

Regency Capital Management Inc. DE cut its holdings in Deere & Company (NYSE:DE) by 38.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,085 shares of the industrial products company’s stock after selling 2,563 shares during the quarter. Deere & Company comprises about 0.9% of Regency Capital Management Inc. DE’s investment portfolio, making the stock its 28th biggest holding. Regency Capital Management Inc. DE’s holdings in Deere & Company were worth $1,705,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the period. Fairscale Capital LLC acquired a new stake in Deere & Company during the 2nd quarter worth about $26,000. Pineridge Advisors LLC raised its holdings 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 period. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the 4th quarter worth about $30,000. Finally, Spartan Planning & Wealth Management acquired a new stake in Deere & Company during the 4th quarter worth about $33,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Deere & Company stock traded down $0.75 during trading hours on Friday, reaching $407.99. 874,434 shares of the company were exchanged, compared to its average volume of 1,501,547. The firm has a market cap of $112.43 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.36 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a 50-day moving average of $382.65 and a 200 day moving average of $385.04. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47.

Deere & Company (NYSE:DE) last announced its 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 firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.20 earnings per share. As a group, research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company’s payout ratio is currently 17.70%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DE shares. Raymond James started coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective on the stock. Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. JPMorgan Chase & Co. dropped their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Truist Financial reiterated a “buy” rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $410.50.

About Deere & Company

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.