SteelPeak Wealth LLC Lowers Stock Holdings in Deere & Company (NYSE:DE)

SteelPeak Wealth LLC reduced its position in Deere & Company (NYSE:DE) by 22.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pinnacle Associates Ltd. grew its position in Deere & Company by 2.2% during the third quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after buying an additional 117 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Deere & Company by 16.8% during the third quarter. First Trust Direct Indexing L.P. now owns 7,601 shares of the industrial products company’s stock worth $3,172,000 after purchasing an additional 1,096 shares in the last quarter. Edge Financial Advisors LLC bought a new position in shares of Deere & Company in the third quarter worth approximately $377,000. Pathway Financial Advisers LLC raised its stake in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares in the last quarter. Finally, Avitas Wealth Management LLC lifted its position in Deere & Company by 1.6% during the third quarter. Avitas Wealth Management LLC now owns 7,107 shares of the industrial products company’s stock valued at $2,966,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DE. Evercore ISI increased their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Oppenheimer dropped their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Finally, Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Trading Up 0.1 %

Shares of NYSE:DE traded up $0.32 during midday trading on Wednesday, hitting $406.36. 221,085 shares of the stock traded hands, compared to its average volume of 1,441,626. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The stock has a market capitalization of $111.98 billion, a PE ratio of 12.25, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The business’s 50 day moving average is $399.35 and its two-hundred day moving average is $385.23.

Deere & Company (NYSE:DE) last issued 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 during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the business earned $10.20 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date 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 (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.