Icon Wealth Advisors LLC Purchases 1,168 Shares of Deere & Company $DE

Icon Wealth Advisors LLC raised its position in shares of Deere & Company (NYSE:DE) by 64.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,984 shares of the industrial products company’s stock after purchasing an additional 1,168 shares during the period. Icon Wealth Advisors LLC’s holdings in Deere & Company were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DE. Strategic Advocates LLC purchased a new stake in shares of Deere & Company during the third quarter worth $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company in the fourth quarter worth $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth $29,000. McIlrath & Eck LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in Deere & Company during the third quarter valued at about $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.1%

NYSE:DE opened at $577.05 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. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a market cap of $155.77 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The company has a 50 day simple moving average of $573.27 and a two-hundred day simple moving average of $549.31.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the firm posted $6.64 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. Research analysts forecast that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s payout ratio is presently 36.71%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent research reports. Robert W. Baird reduced their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Argus raised their target price on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. DA Davidson lowered their price objective on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Wells Fargo & Company raised their price objective on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Finally, Oppenheimer reiterated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & 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.