Simplicity Wealth LLC Purchases Shares of 12,797 Deere & Company $DE

Simplicity Wealth LLC purchased a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,797 shares of the industrial products company’s stock, valued at approximately $8,118,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Timmons Wealth Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $29,000. McIlrath & Eck LLC purchased a new stake in Deere & Company in the fourth quarter worth approximately $30,000. Portus Wealth Advisors LLC purchased a new stake in Deere & Company in the first quarter worth approximately $32,000. Wealth Watch Advisors INC bought a new position in Deere & Company during the third quarter valued at approximately $32,000. Finally, SHP Wealth Management bought a new position in Deere & Company during the fourth quarter valued at approximately $33,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $608.73 on Monday. The company has a market capitalization of $164.32 billion, a P/E ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The stock has a 50 day moving average price of $603.23 and a two-hundred day moving average price of $588.27.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the previous year, the firm earned $6.64 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were given a $1.62 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s payout ratio is presently 36.71%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Oppenheimer restated an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Robert W. Baird reduced their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Finally, Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research note on Friday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.