Xcel Wealth Management LLC Reduces Holdings in Deere & Company (NYSE:DE)

Xcel Wealth Management LLC lowered its position in shares of Deere & Company (NYSE:DE) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,525 shares of the industrial products company’s stock after selling 25 shares during the quarter. Xcel Wealth Management LLC’s holdings in Deere & Company were worth $636,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DE. Park Avenue Securities LLC raised its position in shares of Deere & Company by 4.3% during the first quarter. Park Avenue Securities LLC now owns 4,156 shares of the industrial products company’s stock valued at $1,707,000 after buying an additional 173 shares during the last quarter. Global Assets Advisory LLC bought a new position in Deere & Company during the first quarter valued at $6,359,000. Dynamic Advisor Solutions LLC boosted its stake in shares of Deere & Company by 8.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 12,328 shares of the industrial products company’s stock valued at $5,064,000 after purchasing an additional 942 shares during the period. Affinity Capital Advisors LLC boosted its stake in shares of Deere & Company by 1.4% during the first quarter. Affinity Capital Advisors LLC now owns 2,176 shares of the industrial products company’s stock valued at $894,000 after purchasing an additional 31 shares during the period. Finally, New England Professional Planning Group Inc. purchased a new stake in shares of Deere & Company during the first quarter valued at $244,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Citigroup upped their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Trading Down 0.0 %

Shares of DE stock traded down $0.19 during trading hours on Tuesday, hitting $406.77. The company had a trading volume of 253,179 shares, compared to its average volume of 1,461,541. The stock has a market capitalization of $112.09 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company’s fifty day moving average is $394.28 and its 200 day moving average is $385.26. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly 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 company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company earned $10.20 earnings per share. Research analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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 issued 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 1.45%. Deere & Company’s payout ratio is 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.