Citizens Financial Group Inc. RI Cuts Position in Deere & Company (NYSE:DE)

Citizens Financial Group Inc. RI lessened its holdings in Deere & Company (NYSE:DE) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,296 shares of the industrial products company’s stock after selling 278 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Deere & Company were worth $7,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Essex Savings Bank grew its holdings in Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after buying an additional 27 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after buying an additional 27 shares in the last quarter. Simplicity Solutions LLC lifted its stake in shares of Deere & Company by 0.5% in the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after buying an additional 27 shares in the last quarter. Finally, SageView Advisory Group LLC lifted its stake in shares of Deere & Company by 2.4% in the third quarter. SageView Advisory Group LLC now owns 1,201 shares of the industrial products company’s stock worth $453,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Truist Financial assumed coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Morgan Stanley began coverage on shares of Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 target price for the company. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Price Performance

DE stock opened at $393.33 on Friday. Deere & Company has a 52 week low of $345.55 and a 52 week 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 company has a fifty day simple moving average of $387.86 and a two-hundred day simple moving average of $383.56. The firm has a market capitalization of $109.49 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.55 earnings per share. Analysts anticipate that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

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.