Elyxium Wealth LLC Raises Stake in Deere & Company (NYSE:DE)

Elyxium Wealth LLC increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 21.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,391 shares of the industrial products company's stock after purchasing an additional 609 shares during the quarter. Elyxium Wealth LLC's holdings in Deere & Company were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after buying an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after buying an additional 798 shares in the last quarter. Stenger Family Office LLC bought a new stake in shares of Deere & Company during the 4th quarter worth $3,144,000. Stratos Investment Management LLC purchased a new position in shares of Deere & Company in the first quarter valued at about $271,000. Finally, Telos Capital Management Inc. increased its position in shares of Deere & Company by 28.2% during the first quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company's stock valued at $1,592,000 after buying an additional 746 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Truist Financial raised their price target on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Evercore ISI upped their target price on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $515.50.

Deere & Company Stock Down 0.7%

Shares of Deere & Company stock traded down $3.58 during trading on Monday, reaching $496.24. 1,110,953 shares of the company traded hands, compared to its average volume of 1,342,449. The company has a 50 day moving average price of $512.85 and a 200-day moving average price of $481.48. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The firm has a market capitalization of $134.40 billion, a PE ratio of 24.01, a P/E/G ratio of 3.17 and a beta of 1.08. 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 (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the prior year, the firm posted $8.53 EPS. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. As a group, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

Deere & Company 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.