Davis R M Inc. Sells 2,696 Shares of Deere & Company $DE

Davis R M Inc. cut its stake in Deere & Company (NYSE:DE - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company's stock valued at $10,514,053,000 after acquiring an additional 198,332 shares in the last quarter. State Street Corp grew its stake in shares of Deere & Company by 0.9% in the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock worth $4,898,717,000 after acquiring an additional 97,049 shares in the last quarter. Capital World Investors raised its holdings in shares of Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock valued at $3,581,574,000 after purchasing an additional 158,584 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Deere & Company by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company's stock valued at $2,609,149,000 after purchasing an additional 17,269 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

DE has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Jefferies Financial Group upgraded Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 target price on the stock in a research note on Wednesday, April 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Finally, Truist Financial lifted their price target on Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Moderate Buy" and an average price target of $642.98.

Deere & Company Trading Up 3.5%

Shares of DE stock opened at $607.63 on Thursday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of $164.02 billion, a P/E ratio of 34.43, a PEG ratio of 2.48 and a beta of 0.89. The company has a 50 day moving average of $583.01 and a 200-day moving average of $574.70. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the business earned $6.64 earnings per share. Deere & Company's revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 18.27 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company's dividend 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.

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