Royal London Asset Management Ltd. Has $68.88 Million Position in Deere & Company $DE

Key Points

• Royal London Asset Management cut its Deere stake by 24.2% in the second quarter, selling 34,683 shares and retaining 108,589 shares valued at $68.88 million. Institutional investors and hedge funds collectively own 68.58% of Deere’s stock.
• Analysts maintain a generally positive view, with 14 Buy ratings and nine Holds, resulting in a “Moderate Buy” consensus and an average price target of $653.48.
• Deere reported quarterly EPS of $5.10, exceeding estimates of $4.69, while revenue rose 6.2% year over year to $12.61 billion. The company also declared a $1.62 quarterly dividend, equivalent to a 1.0% annualized yield.

Royal London Asset Management Ltd. cut its stake in Deere & Company (NYSE:DE - Free Report) by 24.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,589 shares of the industrial products company's stock after selling 34,683 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Deere & Company were worth $68,881,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DE. Brighton Jones LLC raised its holdings in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after acquiring an additional 1,278 shares during the period. Schnieders Capital Management LLC. lifted its position in Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company's stock worth $1,056,000 after acquiring an additional 150 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Deere & Company during the second quarter worth approximately $2,153,000. NewEdge Advisors LLC grew its position in shares of Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company's stock valued at $9,538,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of Deere & Company by 6.7% in the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company's stock valued at $789,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

DE has been the subject of several research reports. UBS Group dropped their price target on Deere & Company from $732.00 to $728.00 and set a "buy" rating for the company in a report on Friday, August 21st. Truist Financial decreased their price objective on Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a report on Monday. Raymond James Financial dropped their target price on Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, May 22nd. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research report on Friday, August 14th. Finally, Oppenheimer upped their price target on shares of Deere & Company from $680.00 to $685.00 and gave the company an "outperform" rating in a research note on Thursday, August 20th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $653.48.

Deere & Company Stock Up 1.3%

Shares of NYSE DE opened at $630.66 on Friday. The stock has a market capitalization of $170.24 billion, a P/E ratio of 35.04, a PEG ratio of 2.57 and a beta of 0.90. The stock's fifty day moving average is $611.59 and its 200 day moving average is $593.34. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the prior year, the company posted $4.75 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company's dividend payout ratio (DPR) is currently 36.00%.

Deere & Company 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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