Clearstead Trust LLC Grows Holdings in Deere & Company $DE

Clearstead Trust LLC grew its stake in shares of Deere & Company (NYSE:DE) by 2.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,069 shares of the industrial products company’s stock after purchasing an additional 221 shares during the quarter. Deere & Company makes up approximately 0.8% of Clearstead Trust LLC’s investment portfolio, making the stock its 20th largest position. Clearstead Trust LLC’s holdings in Deere & Company were worth $4,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company during the second quarter worth approximately $25,000. Activest Wealth Management grew its stake in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new position in Deere & Company during the 2nd quarter worth $38,000. Center for Financial Planning Inc. increased its holdings in Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares during the period. Finally, Livelsberger Financial Advisory bought a new stake in Deere & Company during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $473.54 on Friday. Deere & Company has a one year low of $387.79 and a one year high of $533.78. The firm has a market cap of $128.01 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 3.05 and a beta of 1.04. 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 firm has a 50-day simple moving average of $465.98 and a two-hundred day simple moving average of $490.57.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. 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 business posted $6.29 EPS. Deere & Company’s revenue was down 9.0% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s payout ratio is currently 33.87%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DE shares. Oppenheimer dropped their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. Daiwa Capital Markets dropped their target price on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. DA Davidson cut their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Royal Bank Of Canada assumed coverage on shares of Deere & Company in a report on Wednesday, October 22nd. They issued an “outperform” rating and a $542.00 price target for the company. Finally, Zacks Research downgraded shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $520.00.

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.