Corient Private Wealth LLC Has $294.35 Million Stock Holdings in Deere & Company $DE

Corient Private Wealth LLC lifted its position in Deere & Company (NYSE:DE) by 76.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 632,157 shares of the industrial products company’s stock after purchasing an additional 273,842 shares during the quarter. Corient Private Wealth LLC’s holdings in Deere & Company were worth $294,351,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cary Street Partners Financial LLC raised its position in Deere & Company by 11.8% in the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC grew 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 worth $39,737,000 after purchasing an additional 30,553 shares during the last quarter. Westpac Banking Corp increased its stake in shares of Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after buying an additional 3,047 shares in the last quarter. Eldred Rock Partners LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $13,166,000. Finally, Legal & General Group Plc raised its holdings in shares of Deere & Company by 7.6% in the third quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock valued at $755,385,000 after buying an additional 115,975 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $590.37 on Friday. The stock has a 50-day moving average price of $573.71 and a 200 day moving average price of $552.66. 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 firm has a market cap of $159.36 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last released its 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 net margin of 10.09% and a return on equity of 18.25%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $6.64 EPS. Research analysts expect that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

Analyst Ratings Changes

DE has been the topic of several research reports. Raymond James Financial reduced their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. DA Davidson dropped their target price on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Morgan Stanley upped their target price on shares of Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Barclays increased their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Finally, Bank of America lowered their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

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.