Sendero Wealth Management LLC Invests $205,000 in Deere & Company (NYSE:DE)

Sendero Wealth Management LLC acquired a new stake in shares of Deere & Company (NYSE:DE) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 499 shares of the industrial products company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. lifted its holdings in shares of Deere & Company by 14.5% during the 1st quarter. Hennessy Advisors Inc. now owns 7,100 shares of the industrial products company’s stock valued at $2,916,000 after buying an additional 900 shares during the period. Dohj LLC boosted its position in Deere & Company by 6.8% in the first quarter. Dohj LLC now owns 4,156 shares of the industrial products company’s stock worth $1,707,000 after purchasing an additional 264 shares during the last quarter. Thrive Wealth Management LLC bought a new stake in shares of Deere & Company during the 1st quarter valued at about $218,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Deere & Company by 45.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 77,781 shares of the industrial products company’s stock valued at $31,948,000 after purchasing an additional 24,171 shares during the last quarter. Finally, Cardinal Capital Management lifted its stake in shares of Deere & Company by 5.7% in the 1st quarter. Cardinal Capital Management now owns 27,112 shares of the industrial products company’s stock worth $11,175,000 after purchasing an additional 1,470 shares during the period. Institutional investors own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Deere & Company Price Performance

NYSE DE traded down $1.68 during trading on Friday, hitting $373.63. 5,885,779 shares of the stock traded hands, compared to its average volume of 1,519,037. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 12-month low of $353.15 and a 12-month high of $450.00. The firm has a 50-day simple moving average of $385.32 and a 200-day simple moving average of $387.02. The company has a market capitalization of $102.96 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period last year, the firm posted $9.65 earnings per share. As a group, analysts predict that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio is 17.70%.

Wall Street Analyst Weigh In

A number of brokerages have commented on DE. Raymond James began coverage on shares of Deere & Company in a report on Friday. They set an “outperform” rating and a $420.00 target price for the company. Citigroup initiated coverage on Deere & Company in a report on Wednesday. They issued a “neutral” rating and a $395.00 target price on the stock. DA Davidson cut their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $430.55.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.