SteelPeak Wealth LLC Buys 5,105 Shares of Deere & Company (NYSE:DE)

SteelPeak Wealth LLC increased its stake in Deere & Company (NYSE:DE) by 84.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,160 shares of the industrial products company’s stock after purchasing an additional 5,105 shares during the period. SteelPeak Wealth LLC’s holdings in Deere & Company were worth $4,747,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BSW Wealth Partners raised its position in shares of Deere & Company by 15.2% during the fourth quarter. BSW Wealth Partners now owns 1,785 shares of the industrial products company’s stock worth $757,000 after acquiring an additional 236 shares during the last quarter. Aspire Capital Advisors LLC raised its holdings in Deere & Company by 2.0% during the 4th quarter. Aspire Capital Advisors LLC now owns 1,431 shares of the industrial products company’s stock worth $606,000 after purchasing an additional 28 shares during the last quarter. Stonegate Investment Group LLC lifted its position in Deere & Company by 1.1% during the 4th quarter. Stonegate Investment Group LLC now owns 115,333 shares of the industrial products company’s stock valued at $48,867,000 after purchasing an additional 1,291 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Deere & Company by 2.8% in the 4th quarter. Perigon Wealth Management LLC now owns 18,674 shares of the industrial products company’s stock valued at $8,200,000 after purchasing an additional 515 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its position in shares of Deere & Company by 1.2% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 2,115 shares of the industrial products company’s stock worth $896,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.7 %

Shares of Deere & Company stock opened at $480.59 on Wednesday. The firm has a market cap of $130.89 billion, a PE ratio of 18.77, a P/E/G ratio of 2.84 and a beta of 0.98. The business’s 50 day simple moving average is $440.14 and its 200 day simple moving average is $407.30. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s revenue was down 32.8% compared to the same quarter last year. During the same period last year, the company earned $8.26 earnings per share. On average, analysts predict that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Ratings Changes

A number of equities analysts have issued reports on DE shares. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Morgan Stanley raised their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Citigroup reduced their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial upped their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $444.50.

Deere & Company 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.