AlTi Global Inc. Lowers Holdings in Deere & Company $DE

AlTi Global Inc. lessened its position in Deere & Company (NYSE:DE) by 30.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,745 shares of the industrial products company’s stock after selling 1,183 shares during the quarter. AlTi Global Inc.’s holdings in Deere & Company were worth $1,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company in the second quarter valued at $27,000. Activest Wealth Management raised its stake in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares during the last quarter. Center for Financial Planning Inc. boosted its holdings in shares of Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 61 shares in the last quarter. Finally, United Community Bank grew its holdings in Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 37 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Sanford C. Bernstein reissued a “market perform” rating on shares of Deere & Company in a research note on Tuesday, December 9th. Morgan Stanley reiterated an “overweight” rating and set a $560.00 target price on shares of Deere & Company in a report on Tuesday, December 9th. Wolfe Research lifted their target price on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Oppenheimer boosted their target price on Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $524.20.

Deere & Company Stock Performance

Deere & Company stock opened at $593.11 on Wednesday. The company’s 50-day moving average is $500.08 and its two-hundred day moving average is $485.13. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. Deere & Company has a 1 year low of $404.42 and a 1 year high of $593.76. The company has a market cap of $160.77 billion, a PE ratio of 32.04, a PEG ratio of 2.34 and a beta of 1.02.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Wednesday, December 31st were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Deere & Company’s dividend payout ratio is presently 35.01%.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares in the company, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the sale, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 64,578 shares of company stock valued at $32,471,682. Company insiders own 0.29% of the company’s stock.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.