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

LPL Financial LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 451,163 shares of the industrial products company’s stock after acquiring an additional 10,203 shares during the quarter. LPL Financial LLC’s holdings in Deere & Company were worth $210,048,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DE. Strategic Advocates LLC acquired a new stake in Deere & Company during the 3rd quarter worth about $25,000. Key Capital Management INC acquired a new stake in Deere & Company during the 4th quarter worth about $27,000. McIlrath & Eck LLC acquired a new stake in Deere & Company during the 4th quarter worth about $30,000. Wealth Watch Advisors INC acquired a new stake in Deere & Company during the 3rd quarter worth about $32,000. Finally, Tucker Asset Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $34,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays increased their price target on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a report on Wednesday, April 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Morgan Stanley raised their target price on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. raised their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Stock Performance

Shares of DE opened at $578.07 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a 50-day moving average of $572.93 and a 200-day moving average of $547.52. The company has a market cap of $156.04 billion, a PE ratio of 32.75, a P/E/G ratio of 2.13 and a beta of 0.92. Deere & Company has a one year low of $433.00 and a one year high of $674.19.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $6.64 EPS. On average, equities research analysts predict that Deere & Company will post 18.1 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

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.