Accurate Wealth Management LLC Increases Holdings in Deere & Company (NYSE:DE)

Accurate Wealth Management LLC lifted its position in Deere & Company (NYSE:DE) by 38.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,431 shares of the industrial products company’s stock after buying an additional 670 shares during the period. Accurate Wealth Management LLC’s holdings in Deere & Company were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Capital World Investors grew its position in Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after buying an additional 157,224 shares during the period. FMR LLC grew its position in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after buying an additional 1,039,395 shares during the period. Geode Capital Management LLC increased its holdings in Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after buying an additional 97,203 shares during the last quarter. Finally, Norges Bank bought a new position in Deere & Company in the fourth quarter worth approximately $1,244,094,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $521.63 on Tuesday. The stock has a market capitalization of $141.27 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.14 and a beta of 1.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company has a fifty day moving average of $480.22 and a 200 day moving average of $467.10.

Deere & Company (NYSE:DE) last issued 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. The firm had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business’s revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.53 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is 31.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Bank of America upped their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. DA Davidson reaffirmed a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. Morgan Stanley boosted their price objective on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. Finally, Oppenheimer raised their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus price target of $515.19.

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.