SteelPeak Wealth LLC Decreases Stock Holdings in Deere & Company $DE

Key Points

• SteelPeak Wealth LLC has significantly reduced its holdings in Deere & Company by 60.4% in the second quarter, ending up with 3,358 shares valued at approximately $1.7 million.
• Multiple analysts have revised their price targets for Deere & Company, with estimates now ranging between $495 and $530, indicating a generally cautious outlook on the stock.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, reflecting an annual yield of 1.4%, with a payout ratio of 33.87%.

SteelPeak Wealth LLC reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 60.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,358 shares of the industrial products company's stock after selling 5,131 shares during the period. SteelPeak Wealth LLC's holdings in Deere & Company were worth $1,713,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DE. Activest Wealth Management lifted its position in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth $29,000. Cornerstone Planning Group LLC lifted its position in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company during the 2nd quarter worth $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the 2nd quarter worth $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the topic of several research analyst reports. Daiwa Capital Markets cut their price target on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 2nd. Wolfe Research cut their price target on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a research note on Friday, October 3rd. Oppenheimer cut their price target on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research note on Thursday, September 18th. Finally, DA Davidson cut their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $518.18.

Deere & Company Trading Up 0.8%

NYSE DE opened at $461.08 on Wednesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market cap of $124.64 billion, a PE ratio of 24.10, a P/E/G ratio of 2.94 and a beta of 1.02. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The firm's fifty day moving average is $482.54 and its two-hundred day moving average is $488.94.

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

Deere & Company Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company's payout ratio is currently 33.87%.

About Deere & Company

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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