Corient Private Wealth LP Buys Shares of 593,043 Deere & Company $DE

Corient Private Wealth LP bought a new position in Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 593,043 shares of the industrial products company’s stock, valued at approximately $376,190,000.

Several other hedge funds also recently modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Deere & Company in the second quarter worth $27,000. Kilter Group LLC acquired a new position in Deere & Company during the second quarter worth $29,000. Solstein Capital LLC bought a new position in Deere & Company during the second quarter valued at about $30,000. Portus Wealth Advisors LLC bought a new position in Deere & Company during the first quarter valued at about $32,000. Finally, Timmons Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.4%

Deere & Company stock opened at $633.36 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a fifty day moving average price of $610.13 and a two-hundred day moving average price of $592.80. The firm has a market cap of $170.97 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the prior year, the business earned $4.75 earnings per share. Deere & Company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 18.09 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on DE shares. Bank of America decreased their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Truist Financial cut their price objective on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research note on Monday. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. UBS Group decreased their target price on Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. increased their price target on Deere & Company from $570.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $653.48.

Deere & 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.