Spire Wealth Management Reduces Stock Holdings in Deere & Company $DE

Spire Wealth Management reduced its holdings in shares of Deere & Company (NYSE:DE) by 70.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,094 shares of the industrial products company’s stock after selling 4,896 shares during the quarter. Spire Wealth Management’s holdings in Deere & Company were worth $1,065,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Arkadios Wealth Advisors increased its holdings in shares of Deere & Company by 23.9% during the second quarter. Arkadios Wealth Advisors now owns 9,408 shares of the industrial products company’s stock valued at $4,784,000 after acquiring an additional 1,817 shares in the last quarter. World Investment Advisors increased its stake in Deere & Company by 40.1% during the 2nd quarter. World Investment Advisors now owns 1,933 shares of the industrial products company’s stock valued at $983,000 after purchasing an additional 553 shares in the last quarter. Daymark Wealth Partners LLC raised its holdings in shares of Deere & Company by 6.0% in the second quarter. Daymark Wealth Partners LLC now owns 7,456 shares of the industrial products company’s stock worth $3,791,000 after buying an additional 421 shares during the last quarter. WNY Asset Management LLC lifted its stake in shares of Deere & Company by 20.4% during the second quarter. WNY Asset Management LLC now owns 590 shares of the industrial products company’s stock worth $300,000 after buying an additional 100 shares during the period. Finally, Bank of Jackson Hole Trust grew its holdings in shares of Deere & Company by 11.9% during the second quarter. Bank of Jackson Hole Trust now owns 1,479 shares of the industrial products company’s stock valued at $752,000 after buying an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $461.41 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a market capitalization of $124.73 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 3.05 and a beta of 1.02. The firm’s 50 day simple moving average is $467.74 and its 200-day simple moving average is $489.49. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The firm 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 quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.29 earnings per share. Analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 33.87%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, October 8th. Truist Financial upped their target price on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a report on Tuesday, August 19th. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group dropped their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell 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 $518.72.

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.