Integrated Wealth Concepts LLC Purchases 55 Shares of Deere & Company (NYSE:DE)

Integrated Wealth Concepts LLC raised its position in Deere & Company (NYSE:DE) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,695 shares of the industrial products company’s stock after purchasing an additional 55 shares during the period. Integrated Wealth Concepts LLC’s holdings in Deere & Company were worth $3,212,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Simplicity Wealth LLC grew its stake in Deere & Company by 7.6% in the 2nd quarter. Simplicity Wealth LLC now owns 5,155 shares of the industrial products company’s stock worth $1,926,000 after buying an additional 363 shares in the last quarter. BDF Gestion purchased a new position in Deere & Company in the second quarter worth $2,591,000. Lion Street Advisors LLC grew its position in Deere & Company by 9.1% in the second quarter. Lion Street Advisors LLC now owns 731 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 61 shares in the last quarter. Sendero Wealth Management LLC increased its stake in Deere & Company by 3,453.3% in the second quarter. Sendero Wealth Management LLC now owns 17,731 shares of the industrial products company’s stock valued at $6,625,000 after acquiring an additional 17,232 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Deere & Company during the second quarter valued at about $53,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.8 %

NYSE DE opened at $448.17 on Friday. The stock has a market cap of $122.62 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The stock has a 50 day simple moving average of $417.01 and a two-hundred day simple moving average of $389.92. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the firm posted $8.26 earnings per share. On average, analysts forecast that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.45%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 22.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DE. UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer increased their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Finally, Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $436.41.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.