Franklin Resources Inc. Sells 35,738 Shares of Deere & Company $DE

by · The Cerbat Gem

Franklin Resources Inc. reduced its holdings in Deere & Company (NYSE:DE – Free Report) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 432,445 shares of the industrial products company’s stock after selling 35,738 shares during the quarter. Franklin Resources Inc. owned 0.16% of Deere & Company worth $201,333,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Strategic Advocates LLC bought a new position in Deere & Company in the 3rd quarter worth about $25,000. Key Capital Management INC bought a new position in Deere & Company in the 4th quarter worth about $27,000. McIlrath & Eck LLC bought a new position in Deere & Company in the 4th quarter worth about $30,000. Wealth Watch Advisors INC purchased a new position in shares of Deere & Company in the 3rd quarter worth about $32,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Deere & Company in the 4th quarter worth about $34,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DE shares. Wells Fargo & Company upped their price objective on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Truist Financial cut their price objective on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Citigroup cut their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Raymond James Financial cut their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Finally, Sanford C. Bernstein upped their price objective on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Fourteen investment 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 has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Check Out Our Latest Research Report on DE

Deere & Company Price Performance

DE opened at $578.07 on Wednesday. The stock has a 50-day moving average price of $572.93 and a 200-day moving average price of $547.52. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $156.04 billion, a P/E ratio of 32.75, a PEG ratio of 2.13 and a beta of 0.92.

Deere & Company (NYSE:DE – Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $6.64 EPS. Equities analysts predict that Deere & Company will post 18.1 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.71%.

Deere & Company 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.

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