Stratos Wealth Partners LTD. Has $4.70 Million Holdings in Deere & Company $DE

Key Points

• Stratos Wealth Partners LTD. increased its stake in Deere & Company by 8.1%, owning 9,249 shares worth approximately $4.70 million as of its latest SEC filing.
• Deere & Company recently reported earnings of $4.75 per share, surpassing analysts' expectations, despite a 9% revenue decline year-over-year.
• The company announced a quarterly dividend of $1.62 per share, translating to an annualized dividend yield of 1.4%.

Stratos Wealth Partners LTD. boosted its stake in Deere & Company (NYSE:DE - Free Report) by 8.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,249 shares of the industrial products company's stock after purchasing an additional 693 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Deere & Company were worth $4,703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in Deere & Company during the 1st quarter worth approximately $571,073,000. TD Asset Management Inc increased its stake in Deere & Company by 132.0% in the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company's stock valued at $366,946,000 after purchasing an additional 410,636 shares in the last quarter. Voya Investment Management LLC raised its holdings in Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company's stock worth $344,442,000 after purchasing an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock valued at $635,150,000 after buying an additional 256,806 shares during the period. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Up 0.3%

NYSE DE opened at $458.63 on Friday. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock's 50 day moving average price is $473.24 and its two-hundred day moving average price is $487.60. The stock has a market capitalization of $123.98 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.95 and a beta of 1.02.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm's revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company earned $6.29 earnings per share. As a group, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio is currently 33.87%.

Analyst Ratings Changes

Several analysts recently commented on DE shares. DA Davidson dropped their price objective on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Wolfe Research dropped their price target on Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. UBS Group set a $535.00 price objective on Deere & Company and gave the company a "buy" rating in a report on Friday. Truist Financial increased their target price on Deere & Company from $602.00 to $609.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Finally, Daiwa Capital Markets cut their price target on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $517.35.

About Deere & Company

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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.