IFC Advisors LLC Purchases 40 Shares of Deere & Company $DE

IFC Advisors LLC increased its position in shares of Deere & Company (NYSE:DE) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,200 shares of the industrial products company’s stock after acquiring an additional 40 shares during the quarter. IFC Advisors LLC’s holdings in Deere & Company were worth $1,627,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Activest Wealth Management raised its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC grew its position in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company during the 2nd quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 2nd quarter worth approximately $39,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE opened at $439.00 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a fifty day moving average price of $477.70 and a 200 day moving average price of $488.26. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The stock has a market cap of $118.67 billion, a P/E ratio of 22.95, a P/E/G ratio of 2.87 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.29 earnings per share. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DE shares. Oppenheimer dropped their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. DA Davidson dropped their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research report on Tuesday, August 19th. Robert W. Baird dropped their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Finally, Citigroup dropped their price objective on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $513.88.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.