Corient Private Wealth LLC Acquires 67,911 Shares of Deere & Company $DE

Corient Private Wealth LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 19.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 415,436 shares of the industrial products company’s stock after purchasing an additional 67,911 shares during the period. Corient Private Wealth LLC owned 0.15% of Deere & Company worth $211,250,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Caldwell Trust Co acquired a new position in Deere & Company during the 2nd quarter worth about $1,580,000. Watts Gwilliam & Co. LLC acquired a new stake in shares of Deere & Company in the second quarter valued at about $211,000. Valeo Financial Advisors LLC raised its position in shares of Deere & Company by 22.4% during the second quarter. Valeo Financial Advisors LLC now owns 10,078 shares of the industrial products company’s stock worth $5,124,000 after acquiring an additional 1,843 shares during the last quarter. NWF Advisory Services Inc. acquired a new position in shares of Deere & Company in the second quarter worth approximately $363,000. Finally, Reynders McVeigh Capital Management LLC boosted its holdings in Deere & Company by 44.5% in the second quarter. Reynders McVeigh Capital Management LLC now owns 2,133 shares of the industrial products company’s stock valued at $1,085,000 after acquiring an additional 657 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

In other news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. The trade was a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

Deere & Company Trading Up 2.0%

NYSE:DE opened at $485.35 on Monday. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $131.20 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.83 and a beta of 1.00. The firm has a fifty day simple moving average of $469.02 and a two-hundred day simple moving average of $487.41. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). The company had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. Deere & Company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.55 EPS. Analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s dividend payout ratio is presently 35.01%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Daiwa Capital Markets lowered their price target on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a report on Tuesday, December 2nd. BMO Capital Markets reissued a “market perform” rating and set a $460.00 target price on shares of Deere & Company in a research note on Tuesday, December 9th. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Jefferies Financial Group increased their price target on Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada lowered their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $523.70.

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.