Axxcess Wealth Management LLC Has $2.88 Million Stock Holdings in Deere & Company (NYSE:DE)

Axxcess Wealth Management LLC lowered its position in shares of Deere & Company (NYSE:DE) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,796 shares of the industrial products company’s stock after selling 210 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Deere & Company were worth $2,879,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. FMR LLC boosted its stake in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Deere & Company during the fourth quarter worth $296,232,000. Stockbridge Partners LLC raised its holdings in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after buying an additional 540,874 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Deere & Company by 52,200.3% in the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company’s stock valued at $224,920,000 after buying an additional 529,833 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DE has been the subject of several research reports. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Oppenheimer raised their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, UBS Group upped their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $460.00.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $481.21 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The business’s 50-day moving average price is $469.24 and its two-hundred day moving average price is $435.01. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The firm has a market cap of $130.61 billion, a PE ratio of 21.33, a P/E/G ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.