Taylor Hoffman Capital Management LLC Buys 45 Shares of Deere & Company (NYSE:DE)

Taylor Hoffman Capital Management LLC raised its stake in Deere & Company (NYSE:DE) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,753 shares of the industrial products company’s stock after buying an additional 45 shares during the quarter. Deere & Company comprises about 3.0% of Taylor Hoffman Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Taylor Hoffman Capital Management LLC’s holdings in Deere & Company were worth $8,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter worth about $29,000. Cornerstone Planning Group LLC lifted its position in shares of Deere & Company by 116.1% during the first 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 in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth about $39,000. Finally, Citizens National Bank Trust Department acquired a new stake in shares of Deere & Company during the first quarter worth about $45,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays increased their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. BMO Capital Markets restated a “market perform” rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, Citigroup cut their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $523.93.

Deere & Company Price Performance

DE stock opened at $507.38 on Tuesday. The company has a market capitalization of $137.41 billion, a P/E ratio of 24.55, a PEG ratio of 3.24 and a beta of 1.06. Deere & Company has a twelve month low of $343.90 and a twelve month high of $533.78. The business has a 50 day simple moving average of $512.46 and a 200-day simple moving average of $489.58. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company’s revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $8.53 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company’s dividend payout ratio is presently 31.35%.

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.