Accel Wealth Management Trims Stake in Deere & Company (NYSE:DE)

Accel Wealth Management reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,995 shares of the industrial products company's stock after selling 1,007 shares during the quarter. Deere & Company comprises 1.0% of Accel Wealth Management's portfolio, making the stock its 23rd largest holding. Accel Wealth Management's holdings in Deere & Company were worth $2,540,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DE. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $32,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the third quarter valued at approximately $32,000. Centennial Bank AR raised its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock worth $39,000 after purchasing an additional 84 shares during the last quarter. Continuum Advisory LLC raised its position in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Deere & Company in the 3rd quarter worth approximately $47,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on DE. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $450.00 to $470.00 and gave the stock a "neutral" rating in a report on Wednesday, January 15th. Citigroup reduced their target price on shares of Deere & Company from $470.00 to $430.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Truist Financial boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Jefferies Financial Group cut shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Finally, Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $442.83.

Deere & Company Price Performance

DE stock traded up $4.18 during midday trading on Friday, reaching $478.90. The company had a trading volume of 1,400,742 shares, compared to its average volume of 1,025,682. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1 year low of $340.20 and a 1 year high of $479.48. The company has a market capitalization of $130.43 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 0.98. The firm has a 50-day moving average price of $438.55 and a 200-day moving average price of $405.66.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts' consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.20 billion. During the same quarter in the previous year, the company earned $8.26 EPS. The business's quarterly revenue was down 32.8% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This is a boost from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company's dividend payout ratio is 25.31%.

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.