Elyxium Wealth LLC Sells 423 Shares of Deere & Company (NYSE:DE)

Elyxium Wealth LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,782 shares of the industrial products company’s stock after selling 423 shares during the period. Deere & Company accounts for about 0.7% of Elyxium Wealth LLC’s investment portfolio, making the stock its 27th largest holding. Elyxium Wealth LLC’s holdings in Deere & Company were worth $1,179,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DE. Ensign Peak Advisors Inc lifted its stake in shares of Deere & Company by 93.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 175,572 shares of the industrial products company’s stock worth $74,390,000 after buying an additional 84,896 shares in the last quarter. Ethic Inc. raised its holdings in Deere & Company by 20.5% in the 4th quarter. Ethic Inc. now owns 31,046 shares of the industrial products company’s stock worth $13,154,000 after acquiring an additional 5,282 shares during the last quarter. Family Management Corp lifted its position in Deere & Company by 4.6% in the 4th quarter. Family Management Corp now owns 9,954 shares of the industrial products company’s stock valued at $4,103,000 after acquiring an additional 436 shares in the last quarter. Clark Capital Management Group Inc. increased its holdings in Deere & Company by 11.5% in the 4th quarter. Clark Capital Management Group Inc. now owns 3,103 shares of the industrial products company’s stock worth $1,315,000 after buying an additional 321 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its position in Deere & Company by 10.8% in the 4th quarter. EP Wealth Advisors LLC now owns 5,480 shares of the industrial products company’s stock worth $2,322,000 after buying an additional 535 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $490.50 on Friday. The firm has a 50 day moving average of $465.12 and a 200 day moving average of $450.33. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $133.13 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Analysts Set New Price Targets

DE has been the subject of several research analyst reports. Citigroup cut their price objective on Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Argus set a $510.00 price target on Deere & Company in a research note on Friday, March 7th. Truist Financial reiterated a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Sunday, April 6th. Finally, Evercore ISI upped their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $460.21.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.