Icon Wealth Advisors LLC Invests $1.76 Million in Deere & Company (NYSE:DE)

Icon Wealth Advisors LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the 3rd quarter, Holdings Channel reports. The fund acquired 4,210 shares of the industrial products company’s stock, valued at approximately $1,757,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. 1832 Asset Management L.P. boosted its position in shares of Deere & Company by 67.3% during the first quarter. 1832 Asset Management L.P. now owns 3,313 shares of the industrial products company’s stock valued at $1,361,000 after buying an additional 1,333 shares during the last quarter. BOKF NA grew its stake in shares of Deere & Company by 3.2% in the first quarter. BOKF NA now owns 10,316 shares of the industrial products company’s stock worth $4,169,000 after acquiring an additional 320 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock worth $603,854,000 after acquiring an additional 114,116 shares during the period. Aristides Capital LLC purchased a new position in shares of Deere & Company during the first quarter valued at approximately $205,000. Finally, Mount Yale Investment Advisors LLC lifted its position in Deere & Company by 43.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 1,965 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 592 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $446.65 on Friday. The stock has a 50-day moving average price of $406.99 and a 200 day moving average price of $386.49. The stock has a market capitalization of $122.20 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.54 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $447.50. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

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

Deere & Company Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DE. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial upped their price target on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday. Bank of America raised their price objective 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. Finally, BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.