AlTi Global Inc. Has $461,000 Holdings in Deere & Company $DE

AlTi Global Inc. lowered its stake in Deere & Company (NYSE:DE) by 70.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 816 shares of the industrial products company’s stock after selling 1,979 shares during the period. AlTi Global Inc.’s holdings in Deere & Company were worth $461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Deere & Company in the fourth quarter valued at about $1,715,633,000. Capital World Investors boosted its stake in Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after acquiring an additional 1,893,972 shares during the period. M&T Bank Corp raised its position in shares of Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after acquiring an additional 1,721,239 shares during the last quarter. Finally, Diamant Asset Management Inc. lifted its stake in shares of Deere & Company by 56,230.0% in the 1st quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock valued at $343,961,000 after purchasing an additional 609,533 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Bank of America reduced their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Oppenheimer restated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Finally, Raymond James Financial lowered their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $642.98.

Deere & Company Trading Down 1.9%

Shares of NYSE:DE opened at $586.13 on Tuesday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. 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 company’s fifty day simple moving average is $582.50 and its 200 day simple moving average is $572.84. The firm has a market cap of $158.22 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.21 and a beta of 0.89.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to analyst estimates 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 for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $6.64 EPS. As a group, research analysts forecast that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

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.