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

Key Points

• Concurrent Investment Advisors increased its Deere & Company stake by 52.2% in the second quarter, adding 6,658 shares for a total holding of 19,411 shares valued at approximately $12.3 million.
• Deere exceeded quarterly expectations, reporting $5.10 in EPS versus the $4.69 consensus and $12.61 billion in revenue, up 6.2% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $680.73, while Deere declared a $1.62 quarterly dividend, representing a 0.9% annualized yield.

Concurrent Investment Advisors LLC increased its position in Deere & Company (NYSE:DE - Free Report) by 52.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,411 shares of the industrial products company's stock after acquiring an additional 6,658 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Deere & Company were worth $12,313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Deere & Company during the second quarter worth about $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $29,000. Kilter Group LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $29,000. Solstein Capital LLC purchased a new position in shares of Deere & Company during the second quarter worth about $30,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of Deere & Company during the third quarter worth about $32,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

NYSE DE opened at $692.68 on Friday. The company has a 50-day simple moving average of $619.13 and a two-hundred day simple moving average of $596.29. Deere & Company has a 12-month low of $433.00 and a 12-month high of $705.88. The firm has a market cap of $186.76 billion, a price-to-earnings ratio of 38.48, a PEG ratio of 2.86 and a beta of 0.90. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.75 earnings per share. On average, equities analysts forecast that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DE. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $570.00 to $585.00 and gave the company a "neutral" rating in a research note on Friday, August 21st. Evercore raised shares of Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price objective for the company in a report on Wednesday. UBS Group reduced their target price on Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a research note on Friday, August 21st. Nomura raised Deere & Company to a "buy" rating in a research note on Monday. Finally, Citigroup upped their price objective on Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and an average price target of $680.73.

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.

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