Franklin Resources Inc. Has $209.66 Million Stake in Deere & Company (NYSE:DE)

Franklin Resources Inc. lowered its holdings in Deere & Company (NYSE:DE) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 514,219 shares of the industrial products company’s stock after selling 24,190 shares during the quarter. Franklin Resources Inc. owned about 0.19% of Deere & Company worth $209,657,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the second quarter worth approximately $26,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company in the 3rd quarter valued at $32,000. Centennial Bank AR lifted its stake in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. Finally, Briaud Financial Planning Inc grew its stake in shares of Deere & Company by 73.5% in the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $440.44 on Friday. The firm has a market capitalization of $120.50 billion, a P/E ratio of 17.20, a PEG ratio of 1.91 and a beta of 0.96. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The business has a fifty day moving average price of $420.61 and a 200-day moving average price of $392.67.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the company earned $8.26 EPS. The firm’s revenue was down 32.8% compared to the same quarter last year. As a group, equities research analysts forecast that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DE. Citigroup boosted their price target on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Friday, December 6th. Truist Financial increased their price target on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $443.28.

Deere & 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.