Clearstead Trust LLC Buys New Holdings in Deere & Company $DE

Key Points

• Clearstead Trust LLC acquired 7,997 Deere shares worth approximately $5.1 million during the second quarter, making Deere its 24th-largest holding and representing 0.7% of its portfolio. Other institutional investors also increased positions, while institutions collectively own 68.58% of the stock.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and nine Holds producing a consensus “Moderate Buy” rating and an average price target of $641.98.
• Deere’s latest quarterly results exceeded expectations, with $6.55 in EPS and $13.37 billion in revenue; the company also declared a quarterly dividend of $1.62, equivalent to a 1.1% annualized yield.

Clearstead Trust LLC acquired a new stake in Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,997 shares of the industrial products company's stock, valued at approximately $5,073,000. Deere & Company makes up approximately 0.7% of Clearstead Trust LLC's investment portfolio, making the stock its 24th largest holding.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after acquiring an additional 1,278 shares during the period. Schnieders Capital Management LLC. increased its holdings in Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company's stock valued at $1,056,000 after purchasing an additional 150 shares in the last quarter. Jump Financial LLC acquired a new stake in Deere & Company in the 2nd quarter valued at $2,153,000. NewEdge Advisors LLC raised its position in Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company's stock valued at $9,538,000 after purchasing an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC lifted its stake in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company's stock worth $789,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DE shares. Seaport Research Partners set a $570.00 target price on Deere & Company in a research report on Friday. Citigroup boosted their price target on Deere & Company from $575.00 to $610.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Raymond James Financial dropped their price objective on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, May 22nd. Finally, Bank of America reduced their target price on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and a consensus price target of $641.98.

Deere & Company Trading Down 0.6%

NYSE:DE opened at $608.73 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The business's 50-day simple moving average is $603.23 and its 200 day simple moving average is $587.77. The stock has a market cap of $164.32 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $6.64 EPS. As a group, sell-side analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Deere & 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.

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