Stratos Wealth Partners LTD. Has $4.65 Million Stock Position in Deere & Company $DE

Stratos Wealth Partners LTD. raised its stake in Deere & Company (NYSE:DE) by 9.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,163 shares of the industrial products company’s stock after acquiring an additional 914 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Deere & Company were worth $4,647,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Deere & Company by 1.4% during the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares during the period. State Street Corp grew its holdings in Deere & Company by 0.6% in the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock valued at $5,297,913,000 after buying an additional 64,262 shares in the last quarter. Geode Capital Management LLC increased its position in Deere & Company by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after buying an additional 111,627 shares during the period. Norges Bank acquired a new stake in shares of Deere & Company during the second quarter worth $1,578,243,000. Finally, Fisher Asset Management LLC boosted its position in shares of Deere & Company by 10.1% in the second quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock valued at $1,312,020,000 after acquiring an additional 236,406 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO John C. May II sold 41,472 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 64,578 shares of company stock worth $32,471,682 in the last 90 days. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DE. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Jefferies Financial Group increased their price target on Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Finally, Truist Financial lifted their price objective on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a report on Friday, November 28th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $524.20.

Deere & Company Trading Down 2.5%

Shares of DE opened at $597.66 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a 52-week low of $404.42 and a 52-week high of $626.25. The firm has a market cap of $162.01 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 2.44 and a beta of 1.02. The business’s fifty day moving average is $505.01 and its 200-day moving average is $486.80.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). The business had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.Deere & Company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.55 earnings per share. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were given a $1.62 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

Deere & Company Company Profile

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.