Concurrent Investment Advisors LLC Buys 6,507 Shares of Deere & Company $DE

Key Points

• Concurrent Investment Advisors LLC increased its stake in Deere & Company by 104.3% in Q4, buying 6,507 shares to hold 12,748 shares worth $5.935 million at quarter-end.
• Deere topped Q4 expectations with EPS $2.42 (vs. $1.90 est.) and revenue of $9.61 billion, a 17.5% year-over-year increase.
• Analysts are broadly positive—16 Buy vs. 9 Hold with an average rating of "Moderate Buy" and an average price target of $655.45—and the company pays a quarterly dividend of $1.62 (≈1.2% yield).

Concurrent Investment Advisors LLC boosted its stake in Deere & Company (NYSE:DE - Free Report) by 104.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,748 shares of the industrial products company's stock after purchasing an additional 6,507 shares during the period. Concurrent Investment Advisors LLC's holdings in Deere & Company were worth $5,935,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DE. Strategic Advocates LLC bought a new position in shares of Deere & Company during the third quarter valued at $25,000. Key Capital Management INC bought a new position in shares of Deere & Company during the fourth quarter valued at $27,000. Activest Wealth Management raised its stake in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 27 shares during the last quarter. Wealth Watch Advisors INC bought a new position in shares of Deere & Company during the third quarter valued at $32,000. Finally, United Community Bank raised its stake in shares of Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $562.54 on Monday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The firm has a fifty day simple moving average of $593.61 and a 200 day simple moving average of $526.56. The company has a market capitalization of $151.95 billion, a PE ratio of 31.71, a P/E/G ratio of 1.96 and a beta of 0.98. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.52. The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. Deere & Company's quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 18.01 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 36.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price target for the company in a research note on Wednesday, April 8th. Robert W. Baird dropped their price target on shares of Deere & Company from $675.00 to $580.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. BMO Capital Markets raised their price target 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. Royal Bank Of Canada raised their price target on shares of Deere & Company from $541.00 to $736.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $525.00 to $550.00 and gave the company a "neutral" rating in a research note on Friday, April 10th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $655.45.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.