Morey & Quinn Wealth Partners LLC Grows Stock Holdings in Deere & Company $DE

Morey & Quinn Wealth Partners LLC grew its holdings in Deere & Company (NYSE:DE) by 3.7% during the second quarter, HoldingsChannel reports. The firm owned 2,839 shares of the industrial products company’s stock after acquiring an additional 100 shares during the period. Deere & Company comprises about 1.2% of Morey & Quinn Wealth Partners LLC’s investment portfolio, making the stock its 16th biggest holding. Morey & Quinn Wealth Partners LLC’s holdings in Deere & Company were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Activest Wealth Management lifted its stake in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Deere & Company in the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its stake in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.1%

Deere & Company stock opened at $461.06 on Thursday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. 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 price of $481.60 and a 200 day moving average price of $488.75. The company has a market capitalization of $124.64 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the firm earned $6.29 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wolfe Research cut their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a report on Tuesday, August 19th. Oppenheimer cut their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Finally, Daiwa Capital Markets cut their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $518.59.

Deere & Company 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.