Sendero Wealth Management LLC Sells 566 Shares of Deere & Company (NYSE:DE)

Sendero Wealth Management LLC decreased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 19,977 shares of the industrial products company's stock after selling 566 shares during the period. Deere & Company accounts for about 1.3% of Sendero Wealth Management LLC's portfolio, making the stock its 14th largest holding. Sendero Wealth Management LLC's holdings in Deere & Company were worth $9,376,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake 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 purchasing an additional 1,278 shares during the last quarter. Golden State Equity Partners increased its holdings in Deere & Company by 270.3% in the fourth quarter. Golden State Equity Partners now owns 474 shares of the industrial products company's stock valued at $201,000 after purchasing an additional 346 shares during the period. Resonant Capital Advisors LLC raised its position in shares of Deere & Company by 7.9% during the fourth quarter. Resonant Capital Advisors LLC now owns 531 shares of the industrial products company's stock worth $226,000 after acquiring an additional 39 shares during the last quarter. Childress Capital Advisors LLC lifted its position in shares of Deere & Company by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 695 shares of the industrial products company's stock worth $295,000 after purchasing an additional 34 shares during the period. Finally, Calamos Advisors LLC boosted its position in Deere & Company by 0.4% during the fourth quarter. Calamos Advisors LLC now owns 51,974 shares of the industrial products company's stock valued at $22,021,000 after acquiring an additional 189 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on DE. Truist Financial raised their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research note on Friday, May 16th. DA Davidson restated a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Argus set a $510.00 price objective on Deere & Company in a report on Friday, March 7th. Finally, Evercore ISI increased their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $515.19.

Deere & Company Price Performance

Shares of NYSE DE traded up $2.79 during mid-day trading on Thursday, reaching $510.57. The company's stock had a trading volume of 1,125,908 shares, compared to its average volume of 1,396,025. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The stock has a fifty day moving average of $477.57 and a two-hundred day moving average of $464.39. The firm has a market capitalization of $138.58 billion, a PE ratio of 22.63, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the prior year, the company posted $8.53 EPS. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.27%. Deere & Company's payout ratio is 31.35%.

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.