LPL Financial LLC Has $210.05 Million Stock Holdings in Deere & Company $DE

Key Points

• LPL Financial LLC increased its Deere & Company stake by 2.3% in the fourth quarter, owning 451,163 shares worth about $210 million.
• Deere reported strong fiscal Q2 results, with earnings of $6.55 per share beating estimates and revenue of $13.37 billion, up 5.4% from a year earlier.
• The company also declared a quarterly dividend of $1.62 per share, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $639.58.

LPL Financial LLC grew its position in Deere & Company (NYSE:DE - Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 451,163 shares of the industrial products company's stock after acquiring an additional 10,203 shares during the period. LPL Financial LLC owned 0.17% of Deere & Company worth $210,048,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Manchester Capital Management LLC lifted its stake in shares of Deere & Company by 52.9% in the 4th quarter. Manchester Capital Management LLC now owns 1,694 shares of the industrial products company's stock valued at $789,000 after acquiring an additional 586 shares during the last quarter. IMA Advisory Services Inc. lifted its stake in shares of Deere & Company by 618.1% in the 4th quarter. IMA Advisory Services Inc. now owns 2,614 shares of the industrial products company's stock valued at $1,221,000 after acquiring an additional 2,250 shares during the last quarter. Trust Co of Kansas lifted its stake in shares of Deere & Company by 17.2% in the 4th quarter. Trust Co of Kansas now owns 10,879 shares of the industrial products company's stock valued at $5,065,000 after acquiring an additional 1,593 shares during the last quarter. SouthState Bank Corp lifted its stake in shares of Deere & Company by 1.0% in the 4th quarter. SouthState Bank Corp now owns 2,155 shares of the industrial products company's stock valued at $1,003,000 after acquiring an additional 21 shares during the last quarter. Finally, Syon Capital LLC lifted its stake in shares of Deere & Company by 33.7% in the 4th quarter. Syon Capital LLC now owns 3,816 shares of the industrial products company's stock valued at $1,777,000 after acquiring an additional 961 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 0.8%

Shares of NYSE:DE opened at $578.07 on Wednesday. The firm has a market cap of $156.04 billion, a P/E ratio of 32.75, a P/E/G ratio of 2.13 and a beta of 0.92. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The business has a fifty day simple moving average of $572.93 and a 200 day simple moving average of $547.52.

Deere & Company (NYSE:DE - Get Free Report) last announced 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. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $6.64 EPS. Analysts predict that Deere & Company will post 18.1 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DE shares. JPMorgan Chase & Co. increased their price target on Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Argus increased their price target on Deere & Company from $540.00 to $700.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. DA Davidson dropped their price target on Deere & Company from $775.00 to $685.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Sanford C. Bernstein increased their price target on Deere & Company from $521.00 to $615.00 and gave the company a "market perform" rating in a research note on Friday, February 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $639.58.

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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