RB Capital Management LLC Increases Stock Holdings in Deere & Company (NYSE:DE)

RB Capital Management LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 3.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,965 shares of the industrial products company’s stock after buying an additional 60 shares during the quarter. RB Capital Management LLC’s holdings in Deere & Company were worth $786,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DE. Briaud Financial Planning Inc purchased a new stake in Deere & Company during the 3rd quarter worth approximately $25,000. ZRC Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new position in Deere & Company during the fourth quarter worth $28,000. Naples Money Management LLC acquired a new stake in Deere & Company in the 4th quarter worth about $29,000. Finally, Bfsg LLC acquired a new position in Deere & Company in the 4th quarter valued at $30,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 1.0 %

Shares of DE traded down $3.91 during mid-day trading on Wednesday, reaching $387.50. 2,004,908 shares of the stock traded hands, compared to its average volume of 1,459,600. The stock has a fifty day simple moving average of $389.34 and a 200 day simple moving average of $383.73. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The firm has a market cap of $107.86 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 1.51 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same period last year, the firm earned $6.55 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. Deere & Company’s payout ratio is 17.12%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DE shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Wells Fargo & Company cut their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $433.28.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.