AlTi Global Inc. Has $1.87 Million Stock Position in Deere & Company (NYSE:DE)

AlTi Global Inc. grew its position in shares of Deere & Company (NYSE:DE) by 145.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,997 shares of the industrial products company’s stock after acquiring an additional 2,957 shares during the quarter. AlTi Global Inc.’s holdings in Deere & Company were worth $1,874,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DE. Albar Capital Ltd acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $2,314,000. Prairie Wealth Advisors Inc. acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $273,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Deere & Company by 59.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 50,653 shares of the industrial products company’s stock valued at $18,925,000 after buying an additional 18,789 shares during the last quarter. Savoie Capital LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $2,242,000. Finally, Appian Way Asset Management LP acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $2,615,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DE. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Truist Financial restated a “buy” rating and issued a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Raymond James began coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target on the stock. Finally, HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $410.50.

Deere & Company Stock Down 1.0 %

Shares of NYSE DE opened at $406.93 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46. The stock has a market capitalization of $112.14 billion, a P/E ratio of 12.25, a PEG ratio of 1.36 and a beta of 0.92. The stock’s fifty day moving average is $377.65 and its 200 day moving average is $383.38.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the business earned $10.20 earnings per share. Sell-side analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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.