Axxcess Wealth Management LLC Boosts Stake in Deere & Company $DE

Axxcess Wealth Management LLC lifted its holdings in Deere & Company (NYSE:DE) by 7.8% in the 2nd quarter, Holdings Channel reports. The firm owned 7,065 shares of the industrial products company’s stock after acquiring an additional 512 shares during the period. Axxcess Wealth Management LLC’s holdings in Deere & Company were worth $3,592,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Southland Equity Partners LLC increased its position in Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after acquiring an additional 20 shares during the last quarter. Vivid Wealth Management LLC increased its position in Deere & Company by 1.9% during the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after acquiring an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after acquiring an additional 21 shares during the last quarter. Tyler Stone Wealth Management increased its position in Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 21 shares during the last quarter. Finally, McLean Asset Management Corp increased its position in Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock valued at $283,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Jefferies Financial Group reduced their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Wolfe Research cut their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Robert W. Baird cut their price target on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a report on Monday. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $511.76.

Deere & Company Stock Performance

NYSE DE opened at $448.12 on Wednesday. The firm has a market cap of $121.14 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 2.82 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business has a 50-day moving average price of $476.51 and a 200-day moving average price of $487.98. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.29 earnings per share. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

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.