Axxcess Wealth Management LLC Has $570,000 Position in Deere & Company (NYSE:DE)

Axxcess Wealth Management LLC cut its holdings in shares of Deere & Company (NYSE:DEGet Rating) by 24.7% during the second quarter, Holdings Channel reports. The fund owned 1,903 shares of the industrial products company’s stock after selling 625 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Deere & Company were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC lifted its position in shares of Deere & Company by 151.5% during the 2nd quarter. Northwest Investment Counselors LLC now owns 83 shares of the industrial products company’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth $27,000. Worth Asset Management LLC bought a new stake in shares of Deere & Company during the 1st quarter worth $28,000. Heritage Financial Services LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth $29,000. Finally, Close Asset Management Ltd lifted its position in shares of Deere & Company by 40.0% during the 2nd quarter. Close Asset Management Ltd now owns 105 shares of the industrial products company’s stock worth $31,000 after buying an additional 30 shares during the last quarter. 75.34% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE opened at $437.52 on Thursday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.68 and a current ratio of 1.97. Deere & Company has a 52-week low of $283.81 and a 52-week high of $448.40. The stock has a market capitalization of $132.05 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. The stock’s 50 day moving average price is $375.09 and its 200-day moving average price is $353.29.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 8th. Investors of record on Friday, September 30th were paid a $1.13 dividend. The ex-dividend date was Thursday, September 29th. This represents a $4.52 annualized dividend and a yield of 1.03%. Deere & Company’s payout ratio is 22.59%.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 6,697 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $401.12, for a total value of $2,686,300.64. Following the sale, the insider now directly owns 30,946 shares of the company’s stock, valued at $12,413,059.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Marc A. Howze sold 4,019 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $373.22, for a total transaction of $1,499,971.18. Following the transaction, the chief accounting officer now directly owns 17,321 shares of the company’s stock, valued at $6,464,543.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cory J. Reed sold 6,697 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $401.12, for a total value of $2,686,300.64. Following the completion of the transaction, the insider now directly owns 30,946 shares in the company, valued at approximately $12,413,059.52. The disclosure for this sale can be found here. Insiders have sold a total of 14,019 shares of company stock valued at $5,516,276 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DE. Wells Fargo & Company upped their target price on Deere & Company from $410.00 to $423.00 and gave the stock an “overweight” rating in a report on Monday, August 22nd. Citigroup increased their price target on Deere & Company from $340.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Morgan Stanley increased their target price on Deere & Company from $416.00 to $424.00 and gave the stock an “overweight” rating in a report on Sunday, August 21st. Bank of America lifted their target price on Deere & Company from $335.00 to $381.00 in a research note on Sunday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Deere & Company from $365.00 to $374.00 and gave the stock a “hold” rating in a report on Thursday, November 17th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $412.58.

Deere & Company Profile

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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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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