Regency Capital Management Inc. DE Reduces Holdings in Deere & Company (NYSE:DE)

Regency Capital Management Inc. DE reduced its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 38.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,085 shares of the industrial products company's stock after selling 2,563 shares during the quarter. Deere & Company makes up 0.9% of Regency Capital Management Inc. DE's investment portfolio, making the stock its 28th largest position. Regency Capital Management Inc. DE's holdings in Deere & Company were worth $1,705,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DE. Oppenheimer Asset Management Inc. boosted its stake in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company's stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company's stock worth $710,000 after purchasing an additional 372 shares during the last quarter. Brevan Howard Capital Management LP boosted its stake in shares of Deere & Company by 857.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company's stock worth $3,061,000 after purchasing an additional 6,855 shares during the last quarter. Aviance Capital Partners LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth about $2,783,000. Finally, Oxford Financial Group LTD. LLC boosted its stake in shares of Deere & Company by 2.9% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company's stock worth $731,000 after purchasing an additional 51 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a "hold" rating on the stock in a research note on Thursday, August 8th. Morgan Stanley decreased their target price on shares of Deere & Company from $450.00 to $425.00 and set an "overweight" rating on the stock in a research report on Monday, August 26th. HSBC cut shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a research report on Friday, August 16th. Finally, Truist Financial reissued a "buy" rating and issued a $443.00 target price (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of "Hold" and a consensus price target of $410.50.

Deere & Company Stock Down 0.2 %

Shares of NYSE:DE traded down $0.75 during midday trading on Friday, reaching $407.99. The company had a trading volume of 874,434 shares, compared to its average volume of 1,501,547. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock's fifty day moving average price is $382.65 and its 200-day moving average price is $385.04. The stock has a market capitalization of $112.43 billion, a P/E ratio of 12.39, a PEG ratio of 1.36 and a beta of 0.92. Deere & Company has a one year low of $340.20 and a one year high of $420.47.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts' consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm's revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.20 earnings per share. Equities research analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company's dividend payout ratio (DPR) is 17.70%.

Deere & Company Company Profile

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.

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