AlTi Global Inc. Has $2.03 Million Stake in Deere & Company $DE

Key Points

• AlTi Global Inc. reduced its stake in Deere & Company (NYSE: DE) by 13.6%, owning 3,928 shares worth approximately $2.03 million.
• Deere & Company reported earnings of $4.75 per share, exceeding expectations, despite a 9% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.62 to be paid on November 10th, representing an annualized yield of 1.4%.

AlTi Global Inc. trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,928 shares of the industrial products company's stock after selling 620 shares during the period. AlTi Global Inc.'s holdings in Deere & Company were worth $2,028,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Deere & Company by 30.6% in the 1st quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company's stock worth $1,753,000 after acquiring an additional 876 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Deere & Company by 109.9% in the 1st quarter. Golden State Wealth Management LLC now owns 1,224 shares of the industrial products company's stock worth $576,000 after acquiring an additional 641 shares in the last quarter. Western Wealth Management LLC raised its position in Deere & Company by 25.3% in the 1st quarter. Western Wealth Management LLC now owns 1,111 shares of the industrial products company's stock worth $521,000 after purchasing an additional 224 shares during the last quarter. Finally, Perpetual Ltd raised its position in Deere & Company by 37.1% in the 1st quarter. Perpetual Ltd now owns 960 shares of the industrial products company's stock worth $451,000 after purchasing an additional 260 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

DE stock opened at $473.01 on Friday. The firm has a market cap of $127.87 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 3.02 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company's fifty day simple moving average is $469.88 and its 200 day simple moving average is $488.49.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the firm posted $6.29 earnings per share. The business's revenue was down 9.0% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

Several analysts have commented on DE shares. Jefferies Financial Group dropped their target price on shares of Deere & Company from $510.00 to $440.00 and set a "hold" rating for the company in a research report on Wednesday, October 8th. Oppenheimer reduced their target price on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $495.00 to $480.00 and set a "neutral" rating for the company in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada began coverage on shares of Deere & Company in a research note on Wednesday. They set an "outperform" rating and a $542.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $518.72.

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.

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