Obermeyer Wealth Partners Sells 534 Shares of Deere & Company $DE

Obermeyer Wealth Partners reduced its stake in Deere & Company (NYSE:DE) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,301 shares of the industrial products company’s stock after selling 534 shares during the quarter. Deere & Company makes up 1.4% of Obermeyer Wealth Partners’ investment portfolio, making the stock its 26th largest holding. Obermeyer Wealth Partners’ holdings in Deere & Company were worth $27,612,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Bridgewater Advisors Inc. raised its stake in shares of Deere & Company by 3.6% in the second quarter. Bridgewater Advisors Inc. now owns 1,139 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 40 shares in the last quarter. Tsfg LLC boosted its holdings in Deere & Company by 520.7% in the second quarter. Tsfg LLC now owns 509 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 427 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in Deere & Company by 7.0% in the second quarter. Westside Investment Management Inc. now owns 521 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 34 shares during the last quarter. Texas Bank & Trust Co lifted its stake in Deere & Company by 19.7% in the second quarter. Texas Bank & Trust Co now owns 2,400 shares of the industrial products company’s stock valued at $1,220,000 after buying an additional 395 shares during the period. Finally, Telos Capital Management Inc. lifted its stake in Deere & Company by 0.7% in the second quarter. Telos Capital Management Inc. now owns 3,416 shares of the industrial products company’s stock valued at $1,737,000 after buying an additional 25 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DE. Jefferies Financial Group dropped their price target on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Zacks Research cut Deere & Company from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Tuesday, October 28th. Daiwa Capital Markets lowered their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Finally, Truist Financial boosted their price objective on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Price Performance

Shares of NYSE DE opened at $461.41 on Monday. The stock has a market cap of $124.73 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a fifty day moving average of $467.74 and a 200-day moving average of $489.95.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the company posted $6.29 earnings per share. The company’s revenue was down 9.0% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

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.