Icon Wealth Advisors LLC Purchases Shares of 4,210 Deere & Company (NYSE:DE)

Icon Wealth Advisors LLC purchased a new stake in shares of Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,210 shares of the industrial products company’s stock, valued at approximately $1,757,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mattern Wealth Management LLC boosted its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares in the last quarter. Carret Asset Management LLC grew its position in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after acquiring an additional 25 shares during the last quarter. Round Rock Advisors LLC raised its stake in shares of Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 25 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares during the last quarter. Finally, Cornell Pochily Investment Advisors Inc. boosted its stake in shares of Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $446.65 on Friday. The company has a 50-day simple moving average of $406.99 and a two-hundred day simple moving average of $386.49. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market capitalization of $122.20 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. Deere & Company has a one year low of $340.20 and a one year high of $447.50.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.65. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the company posted $8.26 earnings per share. On average, analysts anticipate that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer boosted their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $431.61.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.