Deere & Company $DE Stock Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners LLC cut its Deere & Company stake by 99.8% in the third quarter, selling 270,522 shares and retaining 626 shares valued at approximately $420,000. Institutional investors collectively own 68.58% of the company.
• Analysts remain generally positive, with Deere receiving a consensus “Moderate Buy” rating and an average price target of $688.10; several firms recently raised their targets or upgraded the stock.
• Deere reported quarterly earnings of $5.10 per share, beating estimates of $4.69, while revenue rose 6.2% year over year to $12.61 billion. The company also announced a $1.62 quarterly dividend, equal to a 1.0% yield.

Curated Wealth Partners LLC reduced its stake in Deere & Company (NYSE:DE - Free Report) by 99.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 626 shares of the industrial products company's stock after selling 270,522 shares during the period. Curated Wealth Partners LLC's holdings in Deere & Company were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Baxter Bros Inc. purchased a new stake in Deere & Company in the second quarter valued at $1,707,000. Global Retirement Partners LLC acquired a new position in shares of Deere & Company in the second quarter worth $3,890,000. Nykredit A S acquired a new position in Deere & Company during the 2nd quarter worth $44,378,000. TRB Wealth Management LLC purchased a new position in Deere & Company in the second quarter valued at approximately $623,000. Finally, Pacific Sage Partners LLC acquired a new position in shares of Deere & Company during the second quarter worth about $2,592,000. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup boosted their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Truist Financial lowered their price target on Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a report on Monday, August 24th. Nomura raised Deere & Company to a "buy" rating in a report on Monday, August 31st. Evercore upgraded Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 target price on the stock in a research report on Wednesday, September 2nd. Finally, Raymond James Financial upped their target price on Deere & Company from $700.00 to $730.00 and gave the company an "outperform" rating in a report on Monday, August 31st. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of "Moderate Buy" and a consensus price target of $688.10.

Deere & Company Stock Down 1.4%

Shares of NYSE:DE opened at $641.46 on Friday. Deere & Company has a 12-month low of $454.50 and a 12-month high of $721.22. The stock's 50-day moving average price is $658.05 and its two-hundred day moving average price is $611.83. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The firm has a market cap of $172.95 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 2.38 and a beta of 0.86.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter last year, the firm posted $4.75 earnings per share. Deere & Company's revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

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

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company's products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.

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