SteelPeak Wealth LLC Increases Position in Deere & Company $DE

SteelPeak Wealth LLC increased its stake in shares of Deere & Company (NYSE:DE) by 139.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,053 shares of the industrial products company’s stock after purchasing an additional 4,695 shares during the quarter. SteelPeak Wealth LLC’s holdings in Deere & Company were worth $3,695,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the second quarter valued at $25,000. Howard Hughes Medical Institute acquired a new stake in Deere & Company during the 2nd quarter worth about $27,000. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company during the 2nd quarter valued at about $38,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the second quarter valued at about $39,000. Finally, Center for Financial Planning Inc. raised its stake in shares of Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $465.73 on Friday. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The business’s 50 day moving average is $473.45 and its two-hundred day moving average is $483.81. The company has a market capitalization of $125.96 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.78 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter last year, the business earned $4.55 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s payout ratio is currently 35.01%.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Oppenheimer boosted their target price on shares of Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Wolfe Research reduced their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Finally, Daiwa Capital Markets lowered their target price on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $522.70.

Insider Buying and Selling at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company insiders.

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.