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

Integrated Wealth Concepts LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,695 shares of the industrial products company’s stock after buying an additional 55 shares during the period. Integrated Wealth Concepts LLC’s holdings in Deere & Company were worth $3,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Stockbridge Partners LLC raised its stake in Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after buying an additional 540,874 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp raised its position in shares of Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares during the last quarter. Balentine LLC bought a new position in Deere & Company in the 3rd quarter worth about $710,000. Finally, Captrust Financial Advisors grew its position in Deere & Company by 2.7% during the 3rd quarter. Captrust Financial Advisors now owns 155,184 shares of the industrial products company’s stock valued at $64,763,000 after purchasing an additional 4,051 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on DE. Truist Financial lifted their target price on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Evercore ISI boosted their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup boosted their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $436.41.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $448.17 on Friday. The stock has a market cap of $122.62 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock’s fifty day moving average is $417.01 and its 200 day moving average is $389.92. Deere & Company has a one year low of $340.20 and a one year high of $469.39.

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

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued 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 yield of 1.45%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 22.97%.

Deere & Company Company Profile

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.