Keebeck Wealth Management Sells 2,034 Shares of Deere & Company $DE

Keebeck Wealth Management decreased its holdings in Deere & Company (NYSE:DE) by 50.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,006 shares of the industrial products company’s stock after selling 2,034 shares during the period. Keebeck Wealth Management’s holdings in Deere & Company were worth $1,133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Brighton Jones LLC boosted its position 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 valued at $1,927,000 after buying an additional 1,278 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Deere & Company in the second quarter worth about $2,153,000. NewEdge Advisors LLC increased its holdings in shares of Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after buying an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC lifted its stake in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several analyst reports. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Raymond James Financial decreased their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Wolfe Research increased their price objective on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Finally, Barclays raised their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $642.98.

Deere & Company Stock Performance

Deere & Company stock opened at $628.32 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a market cap of $169.61 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.57 and a beta of 0.89. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a 50-day moving average of $585.05 and a 200-day moving average of $576.08.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.64 EPS. Sell-side analysts expect that Deere & Company will post 18.28 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.