Deere & Company $DE Holdings Raised by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC increased its position in Deere & Company by 166.0% during the 2nd quarter, owning 2,822 shares valued at approximately $1.43 million.
• Several hedge funds have adjusted their stakes, with Assenagon Asset Management increasing its position by 58.9%, raising its total holdings to 13,625 shares worth $6.40 million.
• Analysts have set a consensus rating of "Moderate Buy" for Deere & Company, with an average price target of $518.18, despite slight reductions from various firms in recent reports.

Simplicity Wealth LLC increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 166.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,822 shares of the industrial products company's stock after purchasing an additional 1,761 shares during the quarter. Simplicity Wealth LLC's holdings in Deere & Company were worth $1,435,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after buying an additional 5,053 shares during the last quarter. OLD National Bancorp IN raised its stake in Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company's stock worth $12,204,000 after acquiring an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after acquiring an additional 798 shares during the last quarter. Providence Capital Advisors LLC lifted its holdings in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock worth $6,871,000 after acquiring an additional 303 shares during the last quarter. Finally, Bragg Financial Advisors Inc boosted its stake in Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after acquiring an additional 813 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DE shares. JPMorgan Chase & Co. dropped their price target on Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday. Oppenheimer cut their target price on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research note on Thursday, September 18th. Wolfe Research lowered their price target on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research report on Friday. Finally, DA Davidson dropped their price objective on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and an average price target of $518.18.

Deere & Company Price Performance

Shares of NYSE DE opened at $457.47 on Tuesday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The firm's 50-day simple moving average is $483.57 and its 200 day simple moving average is $489.14. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock has a market cap of $123.67 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.98 and a beta of 1.02.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company's revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.29 EPS. Equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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