Royal Bank of Canada Raises Position in Deere & Company $DE

Royal Bank of Canada raised its position in Deere & Company (NYSE:DE) by 9.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,262,146 shares of the industrial products company’s stock after buying an additional 106,349 shares during the quarter. Royal Bank of Canada’s holdings in Deere & Company were worth $710,969,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Cary Street Partners Financial LLC raised its stake in shares of Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC grew its holdings in Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after buying an additional 30,553 shares in the last quarter. Westpac Banking Corp grew its holdings in Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after buying an additional 3,047 shares in the last quarter. Eldred Rock Partners LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at about $13,166,000. Finally, Natixis Advisors LLC increased its position in shares of Deere & Company by 13.4% during the fourth quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock valued at $180,919,000 after buying an additional 45,782 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on DE. Oppenheimer restated an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Truist Financial raised their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Citigroup lifted their price target on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Finally, Bank of America decreased their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Price Performance

DE stock opened at $640.78 on Wednesday. The stock has a market capitalization of $172.97 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.64 and a beta of 0.89. The firm’s 50-day moving average price is $587.92 and its two-hundred day moving average price is $579.01. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.64 earnings per share. As a group, equities analysts predict that Deere & Company will post 18.28 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed 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 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

Deere & 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.