RMR Wealth Builders Buys New Stake in Deere & Company $DE

Key Points

• RMR Wealth Builders has acquired a new stake in Deere & Company, purchasing 597 shares valued at approximately $304,000 in Q2.
• Deere & Company reported earnings of $4.75 per share for the last quarter, exceeding analyst expectations, but revenue was down 9% year-over-year at $10.36 billion.
• The company declared a quarterly dividend of $1.62 per share, with a yield of 1.4%, set to be paid on November 10th, 2023.

RMR Wealth Builders acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 597 shares of the industrial products company's stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Vanguard Group Inc. raised its holdings in shares of Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock worth $10,355,546,000 after buying an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after buying an additional 286,253 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company's stock worth $852,254,000 after purchasing an additional 35,075 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Deere & Company by 2.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company's stock worth $754,500,000 after acquiring an additional 48,941 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $469.38 on Tuesday. The company has a market capitalization of $126.89 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The stock has a 50 day moving average price of $496.57 and a 200 day moving average price of $490.32.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm's quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.29 EPS. Research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is presently 33.87%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DE shares. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Truist Financial cut their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. DA Davidson lowered their price objective on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. JPMorgan Chase & Co. dropped their target price on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a report on Tuesday, September 2nd. Finally, Evercore ISI set a $491.00 target price on Deere & Company in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $520.87.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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