Stratos Wealth Partners LTD. Buys 693 Shares of Deere & Company $DE

Stratos Wealth Partners LTD. lifted its position in Deere & Company (NYSE:DE) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,249 shares of the industrial products company’s stock after buying an additional 693 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Deere & Company were worth $4,703,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares during the period. GAMMA Investing LLC lifted its stake in Deere & Company by 30.6% in the 1st quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company’s stock valued at $1,753,000 after purchasing an additional 876 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Deere & Company by 0.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,020 shares of the industrial products company’s stock worth $42,250,000 after purchasing an additional 826 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Deere & Company during the first quarter worth approximately $233,000. Finally, Avior Wealth Management LLC increased its position in Deere & Company by 1.3% during the first quarter. Avior Wealth Management LLC now owns 4,831 shares of the industrial products company’s stock worth $2,268,000 after buying an additional 61 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DE. Wolfe Research reduced their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. DA Davidson reduced their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Truist Financial increased their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Jefferies Financial Group decreased their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $517.35.

Deere & Company Trading Up 0.3%

Shares of Deere & Company stock opened at $458.63 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a 50-day moving average of $473.24 and a 200-day moving average of $487.60. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The stock has a market cap of $123.98 billion, a PE ratio of 23.97, a PEG ratio of 2.95 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm earned $6.29 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is 33.87%.

About Deere & Company

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.