Deere & Company $DE Shares Sold by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC cut its holdings in shares of Deere & Company (NYSE:DE) by 21.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 809 shares of the industrial products company’s stock after selling 224 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Deere & Company were worth $411,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company during the second quarter valued at about $25,000. Activest Wealth Management grew its stake in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company during the second quarter worth about $38,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of NYSE DE opened at $462.28 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The firm’s 50-day moving average price is $470.40 and its two-hundred day moving average price is $487.74. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The stock has a market capitalization of $124.97 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.96 and a beta of 1.02.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter last year, the company posted $6.29 earnings per share. Deere & Company’s revenue was down 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DE shares. Robert W. Baird reduced their price target on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Truist Financial increased their price target on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Oppenheimer reduced their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. Wolfe Research reduced their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Finally, Zacks Research cut shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $518.72.

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.