Clearstead Trust LLC Invests $5.07 Million in Deere & Company $DE

Clearstead Trust LLC purchased a new stake in Deere & Company (NYSE:DE) in the second quarter, Holdings Channel reports. The firm purchased 7,997 shares of the industrial products company’s stock, valued at approximately $5,073,000. Deere & Company comprises about 0.7% of Clearstead Trust LLC’s holdings, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Financial LLC increased its position in Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after buying an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC boosted its holdings in shares of Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after acquiring an additional 30,553 shares during the period. Westpac Banking Corp boosted its holdings in shares of Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after acquiring an additional 3,047 shares during the period. Natixis Advisors LLC grew its position in shares of Deere & Company by 13.4% during the fourth quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock worth $180,919,000 after acquiring an additional 45,782 shares during the last quarter. Finally, Vise Technologies Inc. grew its position in shares of Deere & Company by 46.1% during the fourth quarter. Vise Technologies Inc. now owns 6,265 shares of the industrial products company’s stock worth $2,917,000 after acquiring an additional 1,977 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.6%

Deere & Company stock opened at $608.73 on Friday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The stock has a market cap of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The company’s 50-day moving average price is $603.23 and its two-hundred day moving average price is $587.77. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $6.64 EPS. On average, analysts expect that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Analyst Ratings Changes

DE has been the topic of several recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Truist Financial upped their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. DA Davidson restated a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a research note on Friday, July 17th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Finally, Bank of America reduced their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $641.98.

About Deere & Company

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.