RKL Wealth Management LLC Sells 74 Shares of Deere & Company $DE

RKL Wealth Management LLC cut its position in Deere & Company (NYSE:DE) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,131 shares of the industrial products company’s stock after selling 74 shares during the quarter. RKL Wealth Management LLC’s holdings in Deere & Company were worth $575,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DE. Vanguard Group Inc. raised its stake in Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after acquiring an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Deere & Company by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock valued at $852,254,000 after purchasing an additional 35,075 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Deere & Company by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after buying an additional 25,725 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after buying an additional 256,806 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on DE. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Truist Financial decreased their price objective on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. Daiwa Capital Markets decreased their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $518.06.

Deere & Company Trading Down 1.3%

Shares of NYSE DE opened at $451.43 on Thursday. The stock’s 50 day simple moving average is $486.80 and its 200 day simple moving average is $489.36. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market cap of $122.04 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.03. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the business earned $6.29 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s payout ratio is 33.87%.

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.