Sendero Wealth Management LLC Buys 886 Shares of Deere & Company (NYSE:DE)

Sendero Wealth Management LLC lifted its stake in Deere & Company (NYSE:DE) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,543 shares of the industrial products company’s stock after acquiring an additional 886 shares during the period. Deere & Company accounts for about 1.3% of Sendero Wealth Management LLC’s investment portfolio, making the stock its 16th largest position. Sendero Wealth Management LLC’s holdings in Deere & Company were worth $8,704,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares during the period. Geode Capital Management LLC lifted its position in shares of Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. FMR LLC boosted its stake in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the period. Legal & General Group Plc grew its holdings in Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after buying an additional 60,255 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Deere & Company by 8.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after buying an additional 158,732 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.8 %

NYSE DE opened at $428.84 on Thursday. The stock has a market capitalization of $116.80 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a fifty day moving average of $429.20 and a 200-day moving average of $400.87.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the company posted $8.26 EPS. On average, equities research analysts forecast that Deere & Company will post 19.41 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. Deere & Company’s payout ratio is presently 25.31%.

Analyst Ratings Changes

DE has been the subject of several research reports. Citigroup reduced their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial raised their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group upped their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $442.83.

Deere & 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.