XXEC Inc. Has $7.03 Million Stake in Deere & Company (NYSE:DE)

XXEC Inc. raised its holdings in Deere & Company (NYSE:DE) by 55.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,838 shares of the industrial products company’s stock after buying an additional 6,001 shares during the quarter. Deere & Company accounts for approximately 5.3% of XXEC Inc.’s holdings, making the stock its 9th biggest holding. XXEC Inc.’s holdings in Deere & Company were worth $7,027,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Iyo Bank Ltd. raised its holdings in shares of Deere & Company by 76.2% in the 3rd quarter. Iyo Bank Ltd. now owns 9,040 shares of the industrial products company’s stock worth $3,773,000 after buying an additional 3,910 shares in the last quarter. WealthPlan Investment Management LLC bought a new stake in Deere & Company in the third quarter valued at $351,000. First National Trust Co raised its stake in Deere & Company by 1.6% during the third quarter. First National Trust Co now owns 2,422 shares of the industrial products company’s stock worth $1,011,000 after acquiring an additional 37 shares in the last quarter. WealthPLAN Partners LLC raised its stake in Deere & Company by 4.5% during the third quarter. WealthPLAN Partners LLC now owns 2,547 shares of the industrial products company’s stock worth $1,063,000 after acquiring an additional 110 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Deere & Company by 2.6% during the third quarter. Apollon Wealth Management LLC now owns 14,943 shares of the industrial products company’s stock valued at $6,236,000 after acquiring an additional 375 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 2.2 %

Shares of NYSE:DE opened at $402.65 on Tuesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock has a market cap of $110.17 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.50 and a beta of 0.93. The company has a 50 day moving average of $403.35 and a 200-day moving average of $385.61. Deere & Company has a one year low of $340.20 and a one year high of $420.47.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.20 EPS. On average, sell-side analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.46%. Deere & Company’s dividend payout ratio is presently 20.06%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DE. Oppenheimer dropped their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Evercore ISI raised their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average price target of $420.69.

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.