Concurrent Investment Advisors LLC Acquires 6,658 Shares of Deere & Company $DE

Concurrent Investment Advisors LLC grew its holdings in Deere & Company (NYSE:DE) by 52.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,411 shares of the industrial products company’s stock after acquiring an additional 6,658 shares during the period. Concurrent Investment Advisors LLC’s holdings in Deere & Company were worth $12,313,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DE. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Deere & Company in the second quarter valued at $27,000. Kilter Group LLC bought a new position in Deere & Company in the 2nd quarter worth $29,000. Solstein Capital LLC bought a new position in Deere & Company in the 2nd quarter worth $30,000. Orion Capital Management LLC purchased a new stake in shares of Deere & Company in the 2nd quarter worth about $32,000. Finally, Portus Wealth Advisors LLC bought a new stake in shares of Deere & Company during the 1st quarter valued at about $32,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 0.2%

Deere & Company stock opened at $692.68 on Friday. The business’s fifty day moving average is $619.13 and its 200 day moving average is $596.29. Deere & Company has a one year low of $433.00 and a one year high of $705.88. The stock has a market capitalization of $186.76 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter in the prior year, the business earned $4.75 earnings per share. Deere & Company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio is presently 36.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DE. Oppenheimer boosted their price target on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Truist Financial reduced their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a report on Monday, August 24th. Nomura raised Deere & Company to a “buy” rating in a research report on Monday. Finally, Citigroup raised their target price on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $680.73.

Deere & Company Company Profile

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.