Corient Private Wealth LP Has $367.81 Million Holdings in Deere & Company $DE

Key Points

• Corient Private Wealth reduced its Deere stake by 10.5% in the second quarter, selling 67,984 shares and retaining 579,782 shares valued at approximately $367.8 million. Institutional investors and hedge funds collectively own 68.58% of Deere.
• Deere reported a quarterly earnings beat, with EPS of $5.10 versus the $4.69 consensus and revenue of $12.61 billion versus $10.81 billion expected. Revenue increased 6.2% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $680.73; several firms recently raised targets as high as $813. Deere also declared a quarterly dividend of $1.62 per share, yielding about 1.0% annually.

Corient Private Wealth LP decreased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 579,782 shares of the industrial products company's stock after selling 67,984 shares during the period. Corient Private Wealth LP owned approximately 0.21% of Deere & Company worth $367,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DE. Cary Street Partners Financial LLC grew its position in Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company's stock valued at $4,801,000 after purchasing an additional 1,086 shares in the last quarter. Baxter Bros Inc. bought a new stake in Deere & Company during the 2nd quarter worth about $1,707,000. Global Retirement Partners LLC bought a new stake in Deere & Company during the 2nd quarter worth about $3,890,000. Westpac Banking Corp lifted its position in Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company's stock worth $3,224,000 after buying an additional 3,047 shares in the last quarter. Finally, TRB Wealth Management LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth about $623,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.1%

Shares of DE stock opened at $677.68 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The firm's 50-day moving average is $623.48 and its 200-day moving average is $597.82. The stock has a market cap of $182.72 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 2.79 and a beta of 0.90. Deere & Company has a 52-week low of $433.00 and a 52-week high of $705.88.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.Deere & Company's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $4.75 earnings per share. Sell-side analysts predict that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company's payout ratio is currently 36.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Evercore upgraded Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price objective for the company in a report on Wednesday, September 2nd. Raymond James Financial increased their price target on Deere & Company from $700.00 to $730.00 and gave the company an "outperform" rating in a research report on Monday, August 31st. Royal Bank Of Canada restated an "outperform" rating and issued a $752.00 price target on shares of Deere & Company in a research note on Monday, August 24th. Citigroup boosted their price target on Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a research report on Friday, August 21st. Finally, Robert W. Baird upgraded Deere & Company from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $640.00 to $800.00 in a research note on Monday, August 31st. Sixteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and a consensus target price of $680.73.

Deere & Company Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.

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