Morey & Quinn Wealth Partners LLC Increases Stock Holdings in Deere & Company (NYSE:DE)

Morey & Quinn Wealth Partners LLC increased its stake in shares of Deere & Company (NYSE:DE) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,739 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. Deere & Company makes up approximately 1.1% of Morey & Quinn Wealth Partners LLC’s holdings, making the stock its 18th largest holding. Morey & Quinn Wealth Partners LLC’s holdings in Deere & Company were worth $1,286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Spectrum Financial Alliance Ltd LLC boosted its stake in Deere & Company by 2.9% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after buying an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Deere & Company in the 4th quarter valued at about $847,000. BankPlus Trust Department acquired a new position in shares of Deere & Company in the 4th quarter valued at about $1,127,000. Stenger Family Office LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $3,144,000. Finally, First Business Financial Services Inc. purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $4,254,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.5%

NYSE:DE opened at $509.04 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The firm has a market capitalization of $137.86 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The business has a 50 day simple moving average of $487.24 and a 200 day simple moving average of $468.53.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 EPS. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Analysts Set New Price Targets

Several equities research analysts recently commented on DE shares. UBS Group dropped their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, May 30th. Finally, Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $515.19.

Deere & Company Profile

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.