SteelPeak Wealth LLC Sells 1,706 Shares of Deere & Company (NYSE:DE)

SteelPeak Wealth LLC lowered its position in Deere & Company (NYSE:DE - Free Report) by 22.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,055 shares of the industrial products company's stock after selling 1,706 shares during the quarter. SteelPeak Wealth LLC's holdings in Deere & Company were worth $2,536,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DE. Arvest Investments Inc. grew its stake in shares of Deere & Company by 9.9% during the 1st quarter. Arvest Investments Inc. now owns 846 shares of the industrial products company's stock worth $348,000 after purchasing an additional 76 shares during the period. Norden Group LLC purchased a new position in Deere & Company in the 1st quarter valued at about $1,070,000. Mainsail Financial Group LLC lifted its holdings in Deere & Company by 2.9% in the 1st quarter. Mainsail Financial Group LLC now owns 2,881 shares of the industrial products company's stock valued at $1,184,000 after purchasing an additional 80 shares in the last quarter. Massachusetts Wealth Management increased its stake in shares of Deere & Company by 7.8% during the 1st quarter. Massachusetts Wealth Management now owns 4,852 shares of the industrial products company's stock valued at $1,993,000 after acquiring an additional 350 shares during the last quarter. Finally, Kovack Advisors Inc. increased its stake in shares of Deere & Company by 46.0% during the 1st quarter. Kovack Advisors Inc. now owns 1,010 shares of the industrial products company's stock valued at $415,000 after acquiring an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 0.3 %

Shares of DE traded down $1.35 during trading hours on Wednesday, hitting $404.69. 783,190 shares of the stock traded hands, compared to its average volume of 1,444,307. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The firm has a market capitalization of $111.52 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The business has a fifty day moving average of $399.35 and a 200-day moving average of $385.23.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts' consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company's revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the firm posted $10.20 earnings per share. Analysts expect that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company's dividend payout ratio is 17.70%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DE shares. HSBC downgraded shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Morgan Stanley cut their target price on Deere & Company from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Monday, August 26th. Hsbc Global Res lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, August 19th. Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Citigroup raised their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of "Hold" and an average target price of $420.69.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.