Rothschild & Co Wealth Management UK Ltd Trims Position in Deere & Company (NYSE:DE)

Key Points

• Rothschild & Co Wealth Management UK Ltd reduced its stake in Deere & Company by 0.1%, selling 1,464 shares, while still holding approximately 1,160,460 shares, representing about 9.2% of its investment portfolio.
• Deere & Company reported a quarterly earnings per share (EPS) of $6.64, significantly beating the consensus estimate of $5.72, despite a 17.9% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.62 per share, which will be paid on August 8th, reflecting a yearly dividend yield of 1.26%.

Rothschild & Co Wealth Management UK Ltd reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 0.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,160,460 shares of the industrial products company's stock after selling 1,464 shares during the quarter. Deere & Company comprises about 9.2% of Rothschild & Co Wealth Management UK Ltd's portfolio, making the stock its 5th biggest position. Rothschild & Co Wealth Management UK Ltd owned approximately 0.43% of Deere & Company worth $544,662,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $1,244,094,000. GAMMA Investing LLC raised its stake in shares of Deere & Company by 61,215.9% during 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 purchasing an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $541,437,000. Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Finally, FMR LLC increased its stake in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.8%

Shares of Deere & Company stock traded down $4.05 on Tuesday, reaching $506.51. The company's stock had a trading volume of 344,901 shares, compared to its average volume of 1,337,052. The company has a market capitalization of $137.18 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 3.28 and a beta of 1.08. The firm's fifty day simple moving average is $512.66 and its two-hundred day simple moving average is $485.53. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.53 EPS. Equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.28%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Evercore ISI increased their target price on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Truist Financial increased their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Morgan Stanley increased their target price on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average price target of $515.50.

About Deere & Company

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.