Simplicity Wealth LLC Buys Shares of 12,797 Deere & Company $DE

Key Points

• Simplicity Wealth LLC initiated a Deere & Company position by purchasing 12,797 shares valued at approximately $8.1 million. Institutional investors collectively own 68.58% of Deere’s stock.
• Deere reported quarterly earnings of $6.55 per share, surpassing estimates of $5.70, while revenue reached $13.37 billion and increased 5.4% year over year.
• Shares opened at $608.73, and analysts maintain a “Moderate Buy” consensus with an average price target of $641.98. Deere also pays a quarterly dividend of $1.62, representing a 1.1% yield.

Simplicity Wealth LLC bought a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,797 shares of the industrial products company's stock, valued at approximately $8,118,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company's stock worth $10,514,053,000 after purchasing an additional 198,332 shares in the last quarter. State Street Corp boosted its stake in Deere & Company by 0.9% in the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock worth $4,898,717,000 after purchasing an additional 97,049 shares during the period. Capital World Investors grew its holdings in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock valued at $3,581,574,000 after buying an additional 158,584 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Deere & Company by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company's stock valued at $2,609,149,000 after buying an additional 17,269 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Down 0.0%

Shares of NYSE DE opened at $608.73 on Monday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average of $603.23 and a 200-day moving average of $588.27. The firm has a market capitalization of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

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 for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $6.64 earnings per share. Sell-side analysts expect that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company's dividend payout ratio is presently 36.71%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DE. DA Davidson reissued a "buy" rating and issued a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $590.00 to $570.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Robert W. Baird cut their price target on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $641.98.

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.

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