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

Royal Fund Management LLC boosted its holdings in Deere & Company (NYSE:DE) by 99.8% in the third quarter, HoldingsChannel.com reports. The firm owned 6,454 shares of the industrial products company’s stock after buying 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tompkins Financial Corp lifted its stake in Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after buying an additional 25 shares during the last quarter. Centaurus Financial Inc. lifted its stake in Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares during the last quarter. Field & Main Bank lifted its stake in Deere & Company by 0.7% in the first quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after buying an additional 27 shares during the last quarter. Range Financial Group LLC lifted its stake in Deere & Company by 5.2% in the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after buying an additional 27 shares during the last quarter. Finally, Cooper Financial Group lifted its stake in Deere & Company by 2.4% in the first quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock valued at $471,000 after buying an additional 27 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE:DE traded up $4.77 during trading hours on Wednesday, hitting $405.05. The company’s stock had a trading volume of 71,010 shares, compared to its average volume of 1,488,596. The business’s 50-day moving average is $384.24 and its two-hundred day moving average is $385.16. The company has a market capitalization of $111.62 billion, a PE ratio of 12.05, a PEG ratio of 1.36 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.20 earnings per share. As a group, research analysts anticipate that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research reports. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Raymond James assumed coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. JPMorgan Chase & Co. cut their price target on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $410.50.

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.