Deere & Company (NYSE:DE) Shares Bought by Accel Wealth Management

Accel Wealth Management lifted its holdings in shares of Deere & Company (NYSE:DE) by 2.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,067 shares of the industrial products company’s stock after acquiring an additional 148 shares during the period. Deere & Company accounts for approximately 1.2% of Accel Wealth Management’s investment portfolio, making the stock its 19th biggest holding. Accel Wealth Management’s holdings in Deere & Company were worth $2,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $1,248,036,000. International Assets Investment Management LLC boosted its stake in shares of Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after buying an additional 838,813 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Deere & Company by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after buying an additional 160,369 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Deere & Company by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after buying an additional 150,713 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s 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 sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Deere & Company Stock Down 0.6 %

NYSE DE traded down $2.16 on Thursday, hitting $362.79. 668,937 shares of the stock traded hands, compared to its average volume of 1,634,612. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average of $383.26 and a 200 day moving average of $386.78. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The company has a market capitalization of $99.97 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter last year, the business posted $9.65 EPS. Deere & Company’s quarterly revenue was down 15.4% compared to the same quarter last year. As a group, analysts expect that Deere & Company will post 25.59 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DE. DA Davidson reduced their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. TD Cowen boosted their price target on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Morgan Stanley boosted their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Truist Financial lowered their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus lifted their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $427.66.

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.