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Arkadios Wealth Advisors Boosts Position in Deere & Company (NYSE:DE)

Deere & Company logo with Industrials background

Key Points

  • Arkadios Wealth Advisors increased its stake in Deere & Company by 114.3%, acquiring an additional 4,049 shares in the first quarter, bringing their total ownership to 7,591 shares valued at $3,563,000.
  • Research firms have raised their target prices for Deere & Company, with Oppenheimer setting a target of $560 and Morgan Stanley at $500, along with an overall consensus rating of "Hold".
  • Deere & Company announced a quarterly dividend of $1.62 per share, yielding approximately 1.28%, with the payout ratio currently at 31.35%.
  • Five stocks to consider instead of Deere & Company.

Arkadios Wealth Advisors raised its stake in Deere & Company (NYSE:DE - Free Report) by 114.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,591 shares of the industrial products company's stock after acquiring an additional 4,049 shares during the quarter. Arkadios Wealth Advisors' holdings in Deere & Company were worth $3,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Sunbelt Securities Inc. lifted its stake in shares of Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after buying an additional 22 shares in the last quarter. First Bancorp Inc ME increased its holdings in Deere & Company by 4.7% during the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after acquiring an additional 23 shares during the period. World Equity Group Inc. increased its holdings in Deere & Company by 4.5% during the 1st quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock worth $244,000 after acquiring an additional 24 shares during the period. Coppell Advisory Solutions LLC increased its holdings in Deere & Company by 2.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock worth $432,000 after acquiring an additional 25 shares during the period. Finally, Glen Eagle Advisors LLC increased its holdings in Deere & Company by 0.9% during the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock worth $1,244,000 after acquiring an additional 25 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 4.5%

Deere & Company stock traded down $23.43 during trading hours on Friday, reaching $500.94. The stock had a trading volume of 1,623,054 shares, compared to its average volume of 1,072,546. The company has a fifty day simple moving average of $512.25 and a 200-day simple moving average of $486.99. The stock has a market cap of $135.67 billion, a PE ratio of 24.24, a PEG ratio of 3.32 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company's revenue was down 17.9% on a year-over-year basis. During the same period last year, the company posted $8.53 EPS. Analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DE. UBS Group decreased their target price on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Evercore ISI increased their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. DA Davidson reissued a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. Finally, Oppenheimer increased their price target on shares of Deere & Company from $555.00 to $560.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $515.50.

View Our Latest Analysis on Deere & Company

Deere & Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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