Integrity Advisory Solutions LLC Invests $738,000 in Deere & Company $DE

Integrity Advisory Solutions LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,613 shares of the industrial products company’s stock, valued at approximately $738,000.

A number of other hedge funds have also recently bought and sold shares of DE. Howard Hughes Medical Institute bought a new position in shares of Deere & Company during the 2nd quarter valued at about $27,000. Activest Wealth Management raised its holdings in shares of Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares in the last quarter. Soundwatch Capital LLC acquired a new stake in Deere & Company during the second quarter valued at approximately $41,000. United Community Bank boosted its holdings in Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after buying an additional 37 shares in the last quarter. Finally, Lynch Asset Management Inc. bought a new stake in Deere & Company during the third quarter worth approximately $46,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 3.9%

NYSE:DE opened at $590.15 on Friday. The business’s fifty day moving average price is $549.53 and its 200 day moving average price is $498.82. The firm has a market capitalization of $159.41 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.16 and a beta of 0.96. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. Deere & Company has a 1-year low of $404.42 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company posted $3.19 EPS. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s payout ratio is presently 36.53%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the transaction, the insider owned 20,792 shares in the company, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their position. The SEC filing for this sale provides additional information. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DE. Raymond James Financial reaffirmed an “outperform” rating and issued a $765.00 price target on shares of Deere & Company in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Monday, December 29th. Wolfe Research increased their price target on Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, BMO Capital Markets raised their target price on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $647.20.

Deere & 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.