Icon Wealth Advisors LLC Purchases 1,168 Shares of Deere & Company $DE

Icon Wealth Advisors LLC increased its position in Deere & Company (NYSE:DE) by 64.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,984 shares of the industrial products company’s stock after buying an additional 1,168 shares during the period. Icon Wealth Advisors LLC’s holdings in Deere & Company were worth $1,387,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DE. Strategic Advocates LLC purchased a new stake in Deere & Company in the 3rd quarter worth $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.1%

NYSE DE opened at $577.05 on Monday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a fifty day simple moving average of $573.27 and a two-hundred day simple moving average of $549.31. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The stock has a market cap of $155.77 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.14 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (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 firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter last year, the company posted $6.64 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on DE. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Oppenheimer restated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Citigroup dropped their price objective on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. BMO Capital Markets increased their price objective on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Finally, Raymond James Financial decreased their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & 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.