Axxcess Wealth Management LLC Increases Stake in Deere & Company (NYSE:DE)

Axxcess Wealth Management LLC lifted its stake in Deere & Company (NYSE:DE) by 70.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,386 shares of the industrial products company’s stock after purchasing an additional 3,043 shares during the period. Axxcess Wealth Management LLC’s holdings in Deere & Company were worth $2,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. M&T Bank Corp lifted its holdings in shares of Deere & Company by 29.8% in the 4th quarter. M&T Bank Corp now owns 154,472 shares of the industrial products company’s stock valued at $61,769,000 after purchasing an additional 35,503 shares during the last quarter. Malaga Cove Capital LLC increased its holdings in shares of Deere & Company by 31.4% in the 4th quarter. Malaga Cove Capital LLC now owns 2,763 shares of the industrial products company’s stock valued at $1,105,000 after purchasing an additional 660 shares in the last quarter. Stokes Family Office LLC raised its holdings in Deere & Company by 8.8% during the fourth quarter. Stokes Family Office LLC now owns 769 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 62 shares during the last quarter. Bordeaux Wealth Advisors LLC raised its position in Deere & Company by 9.6% during the fourth quarter. Bordeaux Wealth Advisors LLC now owns 732 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 64 shares during the last quarter. Finally, 9258 Wealth Management LLC lifted its stake in Deere & Company by 9.8% in the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock valued at $790,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DE shares. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Melius Research reissued a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Wells Fargo & Company reduced their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Finally, Morgan Stanley started coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Up 1.3 %

Shares of NYSE DE traded up $5.00 during mid-day trading on Friday, reaching $400.96. The company had a trading volume of 1,626,960 shares, compared to its average volume of 1,337,641. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company has a market capitalization of $111.61 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.51 and a beta of 1.04. The stock has a fifty day moving average of $391.45 and a two-hundred day moving average of $383.91. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter last year, the business posted $6.55 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities research analysts expect that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is 17.12%.

Deere & Company Profile

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.