Simplicity Wealth LLC Buys 1,093 Shares of Deere & Company $DE

Simplicity Wealth LLC increased its stake in Deere & Company (NYSE:DE) by 8.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,890 shares of the industrial products company’s stock after purchasing an additional 1,093 shares during the quarter. Simplicity Wealth LLC’s holdings in Deere & Company were worth $9,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Deere & Company during the second quarter valued at about $11,763,504,000. Bank of America Corp DE acquired a new position in shares of Deere & Company in the second quarter worth about $1,685,093,000. Bank of New York Mellon Corp acquired a new position in shares of Deere & Company in the second quarter worth about $1,259,279,000. Legal & General Group Plc purchased a new position in shares of Deere & Company in the second quarter worth approximately $957,456,000. Finally, Wellington Management Group LLP increased its position in shares of Deere & Company by 84.3% in the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock worth $1,959,209,000 after acquiring an additional 1,412,694 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.3%

Shares of Deere & Company stock opened at $645.61 on Friday. The stock has a 50-day moving average price of $660.40 and a 200 day moving average price of $614.23. The company has a market cap of $174.07 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.36 and a beta of 0.86. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 1 year low of $454.50 and a 1 year high of $721.22.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.75 EPS. As a group, analysts expect that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s payout ratio is currently 36.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Nomura upgraded shares of Deere & Company to a “buy” rating in a report on Monday, August 31st. CICC Research assumed coverage on shares of Deere & Company in a research report on Sunday, September 13th. They issued an “outperform” rating for the company. Evercore raised shares of Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price objective for the company in a research note on Wednesday, September 2nd. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Oppenheimer lifted their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

About Deere & Company

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.