SteelPeak Wealth LLC Has $2.54 Million Stake in Deere & Company (NYSE:DE)

SteelPeak Wealth LLC cut its position in Deere & Company (NYSE:DE) by 22.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,055 shares of the industrial products company’s stock after selling 1,706 shares during the quarter. SteelPeak Wealth LLC’s holdings in Deere & Company were worth $2,536,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Arvest Investments Inc. increased its position in Deere & Company by 9.9% during the 1st quarter. Arvest Investments Inc. now owns 846 shares of the industrial products company’s stock worth $348,000 after purchasing an additional 76 shares in the last quarter. Norden Group LLC acquired a new position in shares of Deere & Company during the first quarter worth $1,070,000. Mainsail Financial Group LLC lifted its stake in shares of Deere & Company by 2.9% in the 1st quarter. Mainsail Financial Group LLC now owns 2,881 shares of the industrial products company’s stock valued at $1,184,000 after acquiring an additional 80 shares during the last quarter. Massachusetts Wealth Management increased its holdings in Deere & Company by 7.8% in the 1st quarter. Massachusetts Wealth Management now owns 4,852 shares of the industrial products company’s stock worth $1,993,000 after purchasing an additional 350 shares in the last quarter. Finally, Kovack Advisors Inc. raised its holdings in Deere & Company by 46.0% in the 1st quarter. Kovack Advisors Inc. now owns 1,010 shares of the industrial products company’s stock valued at $415,000 after buying an additional 318 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock traded up $0.32 during trading on Wednesday, hitting $406.36. The company’s stock had a trading volume of 221,085 shares, compared to its average volume of 1,441,626. The business has a fifty day moving average of $399.35 and a 200-day moving average of $385.23. The company has a market cap of $111.98 billion, a PE ratio of 12.25, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s dividend payout ratio is presently 17.70%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DE shares. Truist Financial lifted their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average price target of $420.69.

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.