Independent Advisor Alliance Purchases 1,848 Shares of Deere & Company (NYSE:DE)

Key Points

• Independent Advisor Alliance increased its stake in Deere & Company by 18.2%, owning 11,977 shares valued at $5.621 million after acquiring additional shares in the first quarter.
• Deere & Company reported a quarterly EPS of $6.64, exceeding analysts' estimates, with a quarterly revenue of $11.17 billion, though down 17.9% year-over-year.
• The company declared a quarterly dividend of $1.62 per share, translating to an annual yield of 1.3% and a payout ratio of 31.35%.

Independent Advisor Alliance lifted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 18.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,977 shares of the industrial products company's stock after buying an additional 1,848 shares during the period. Independent Advisor Alliance's holdings in Deere & Company were worth $5,621,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of DE. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the 1st quarter worth $29,000. Cornerstone Planning Group LLC raised its holdings in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth $39,000. Finally, Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Robert W. Baird dropped their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday. JPMorgan Chase & Co. increased their target price on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Evercore ISI increased their target price on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Deere & Company presently has an average rating of "Hold" and a consensus price target of $521.47.

Deere & Company Trading Up 2.1%

NYSE DE traded up $10.25 during trading hours on Friday, hitting $489.09. 1,220,969 shares of the company's stock were exchanged, compared to its average volume of 1,357,410. The stock has a 50-day simple moving average of $511.80 and a 200 day simple moving average of $489.83. Deere & Company has a 1-year low of $371.16 and a 1-year high of $533.78. The firm has a market cap of $132.46 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 3.26 and a beta of 1.06. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter last year, the firm posted $6.29 earnings per share. The firm's revenue was down 9.0% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were issued a $1.62 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's dividend payout ratio is presently 31.35%.

Deere & 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.