Deere & Company $DE Shares Sold by AlTi Global Inc.

AlTi Global Inc. lessened its holdings in Deere & Company (NYSE:DE) by 70.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 816 shares of the industrial products company’s stock after selling 1,979 shares during the quarter. AlTi Global Inc.’s holdings in Deere & Company were worth $461,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Key Capital Management INC bought a new position in Deere & Company in the 4th quarter worth approximately $27,000. Timmons Wealth Management LLC acquired a new position in Deere & Company during the 4th quarter worth $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company in the fourth quarter worth $30,000. Portus Wealth Advisors LLC acquired a new position in shares of Deere & Company during the first quarter valued at $32,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Deere & Company during the third quarter valued at about $32,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Raymond James Financial reduced their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Bank of America cut their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Robert W. Baird cut their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $642.98.

Deere & Company Stock Performance

Shares of DE stock opened at $586.13 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The stock’s 50-day moving average is $582.50 and its two-hundred day moving average is $572.84. The firm has a market cap of $158.22 billion, a P/E ratio of 33.21, a PEG ratio of 2.21 and a beta of 0.89.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the previous year, the business earned $6.64 EPS. Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts predict that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

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.