Royal Fund Management LLC Raises Stake in Deere & Company $DE

Royal Fund Management LLC grew its holdings in Deere & Company (NYSE:DEFree Report) by 192.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,201 shares of the industrial products company’s stock after acquiring an additional 2,107 shares during the quarter. Royal Fund Management LLC’s holdings in Deere & Company were worth $1,490,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DE. Strategic Advocates LLC purchased a new position in shares of Deere & Company during the 3rd quarter worth approximately $25,000. Howard Hughes Medical Institute purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $27,000. Activest Wealth Management boosted its stake in shares of Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after buying an additional 27 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in Deere & Company during the third quarter worth $32,000. Finally, United Community Bank raised its position in Deere & Company by 67.3% in the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3%

DE opened at $562.92 on Wednesday. The business’s fifty day moving average is $581.59 and its two-hundred day moving average is $511.06. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The company has a market cap of $152.05 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 1.94 and a beta of 0.96. Deere & Company has a one year low of $404.42 and a one year high of $674.19.

Deere & Company (NYSE:DEGet Free Report) last posted its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the prior year, the company earned $3.19 earnings per share. Deere & Company’s revenue was up 17.5% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio is presently 36.53%.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DE shares. Wells Fargo & Company raised their target price on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Royal Bank Of Canada upped their price target on shares of Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. Daiwa Securities Group reduced their price objective on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research note on Tuesday, December 2nd. Finally, Citigroup decreased their price objective on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating on the stock in a report on Monday, March 9th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $644.70.

Read Our Latest Stock Report on Deere & Company

Key Stories Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

Deere & Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DEFree Report).

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.