SteelPeak Wealth LLC Lowers Position in Deere & Company $DE

SteelPeak Wealth LLC decreased its position in Deere & Company (NYSE:DE) by 60.4% during the 2nd quarter, Holdings Channel reports. The fund owned 3,358 shares of the industrial products company’s stock after selling 5,131 shares during the quarter. SteelPeak Wealth LLC’s holdings in Deere & Company were worth $1,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Nuveen LLC purchased a new stake in Deere & Company during the first quarter worth about $571,073,000. Voya Investment Management LLC boosted its holdings in Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after buying an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after buying an additional 286,253 shares in the last quarter. Invesco Ltd. boosted its holdings in Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after buying an additional 256,806 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Deere & Company by 874.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock worth $124,028,000 after buying an additional 218,893 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.8%

Shares of NYSE DE opened at $461.08 on Wednesday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a market capitalization of $124.64 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm’s 50-day moving average is $482.54 and its two-hundred day moving average is $488.94.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.29 earnings per share. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is currently 33.87%.

Analysts Set New Price Targets

A number of analysts recently commented on DE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Saturday, September 27th. Robert W. Baird decreased their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a report on Tuesday, August 19th. Oppenheimer reduced their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. Finally, Wolfe Research reduced their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.