14,793 Shares in Deere & Company $DE Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI purchased a new stake in shares of Deere & Company (NYSE:DE) in the 2nd quarter, Holdings Channel reports. The fund purchased 14,793 shares of the industrial products company’s stock, valued at approximately $9,384,000.

A number of other hedge funds have also recently bought and sold shares of DE. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $30,000. Portus Wealth Advisors LLC acquired a new stake in shares of Deere & Company in the 1st quarter valued at approximately $32,000. Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the third quarter valued at $32,000. Finally, SHP Wealth Management bought a new position in shares of Deere & Company in the fourth quarter valued at $33,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on DE shares. Truist Financial upped their price target on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research note on Friday. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Bank of America lowered their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

Deere & Company Price Performance

Deere & Company stock opened at $600.08 on Tuesday. The company has a market capitalization of $161.99 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.57 and a beta of 0.90. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock’s 50 day moving average is $603.76 and its 200-day moving average is $588.84.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the previous year, the company posted $6.64 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Deere & 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.