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

Keebeck Wealth Management lowered its stake in shares of Deere & Company (NYSE:DE) by 50.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,006 shares of the industrial products company’s stock after selling 2,034 shares during the quarter. Keebeck Wealth Management’s holdings in Deere & Company were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Anchyra Partners LLC lifted its holdings in Deere & Company by 0.5% in the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 17 shares during the period. William B. Walkup & Associates Inc. grew its holdings in shares of Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after acquiring an additional 17 shares during the period. Advisortrust Partners LLC grew its holdings in shares of Deere & Company by 2.0% during the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 18 shares during the period. Cerro Pacific Wealth Advisors LLC raised its position in shares of Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 19 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $628.32 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average price is $585.05 and its 200-day moving average price is $576.08. 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 $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 (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the business posted $6.64 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is 36.71%.

Wall Street Analysts Forecast Growth

DE has been the topic of several research reports. Oppenheimer restated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Robert W. Baird decreased their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a report on Wednesday, April 8th. Finally, Citigroup upped their target price on shares of Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Fourteen equities 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, the company has a consensus rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company 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.