Axxcess Wealth Management LLC Decreases Stock Position in Deere & Company (NYSE:DE)

Axxcess Wealth Management LLC cut its stake in Deere & Company (NYSE:DE) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,157 shares of the industrial products company’s stock after selling 452 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Deere & Company were worth $2,674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gilbert & Cook Inc. grew its holdings in shares of Deere & Company by 5.4% in the fourth quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 102 shares during the last quarter. 9258 Wealth Management LLC grew its holdings in Deere & Company by 9.8% during the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock worth $790,000 after acquiring an additional 176 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in Deere & Company by 62.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock worth $551,000 after acquiring an additional 552 shares in the last quarter. Jump Financial LLC purchased a new position in Deere & Company during the 4th quarter valued at about $380,000. Finally, Great Lakes Advisors LLC raised its holdings in shares of Deere & Company by 92.9% in the 4th quarter. Great Lakes Advisors LLC now owns 5,070 shares of the industrial products company’s stock valued at $2,027,000 after purchasing an additional 2,442 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DE. Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Truist Financial reaffirmed a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Morgan Stanley dropped their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $409.88.

Deere & Company Stock Up 0.8 %

Shares of DE opened at $397.91 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market cap of $109.65 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The company’s 50-day moving average price is $373.48 and its 200 day moving average price is $382.05. Deere & Company has a 12-month low of $340.20 and a 12-month high of $417.46.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.20 EPS. On average, sell-side analysts forecast that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. Deere & Company’s dividend payout ratio is currently 17.70%.

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.