Kingsview Wealth Management LLC Increases Holdings in Deere & Company $DE

Kingsview Wealth Management LLC increased its stake in shares of Deere & Company (NYSE:DE) by 24.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,014 shares of the industrial products company’s stock after acquiring an additional 1,365 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Deere & Company were worth $3,265,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new stake in Deere & Company during the third quarter worth $25,000. Key Capital Management INC acquired a new stake in Deere & Company during the fourth quarter worth $27,000. McIlrath & Eck LLC acquired a new stake in Deere & Company during the fourth quarter worth $30,000. Wealth Watch Advisors INC acquired a new stake in Deere & Company during the third quarter worth $32,000. Finally, Tucker Asset Management LLC acquired a new stake in Deere & Company during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.6%

Shares of NYSE DE opened at $542.34 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a fifty day simple moving average of $572.29 and a 200-day simple moving average of $542.07. The stock has a market capitalization of $146.49 billion, a PE ratio of 30.73, a PEG ratio of 2.01 and a beta of 0.96.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the previous year, the firm posted $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.2%. Deere & Company’s payout ratio is presently 36.71%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group raised their target price on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Morgan Stanley raised their target price on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Sanford C. Bernstein raised their target price on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Argus raised their target price on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $638.08.

Deere & Company Company Profile

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.