Deere & Company $DE Holdings Lifted by Xcel Wealth Management LLC

Xcel Wealth Management LLC grew its position in Deere & Company (NYSE:DE) by 130.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,580 shares of the industrial products company’s stock after purchasing an additional 2,029 shares during the period. Xcel Wealth Management LLC’s holdings in Deere & Company were worth $1,667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors grew its position in Deere & Company by 5.5% in the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after purchasing an additional 322,582 shares during the last quarter. Fisher Asset Management LLC grew its position in Deere & Company by 5.5% in the 3rd quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company’s stock worth $1,244,670,000 after purchasing an additional 141,790 shares during the last quarter. Invesco Ltd. grew its position in Deere & Company by 21.7% in the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after purchasing an additional 323,512 shares during the last quarter. Legal & General Group Plc grew its position in Deere & Company by 7.6% in the 3rd quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock worth $755,385,000 after purchasing an additional 115,975 shares during the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd grew its position in Deere & Company by 1.5% in the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,196,643 shares of the industrial products company’s stock worth $547,177,000 after purchasing an additional 17,785 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DE shares. Wolfe Research upped their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Wells Fargo & Company upped their target price on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Argus upped their target price on shares of Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. Finally, Sanford C. Bernstein increased their price objective on shares of Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $655.45.

Deere & Company Trading Up 1.3%

Shares of NYSE:DE opened at $584.03 on Friday. The stock has a market capitalization of $157.75 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.02 and a beta of 0.98. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The company has a 50 day moving average price of $594.97 and a 200 day moving average price of $520.42.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $3.19 earnings per share. On average, research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, 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 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.