Taylor Securities Services Inc. Makes New Investment in Deere & Company $DE

Taylor Securities Services Inc. purchased a new position in Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,425 shares of the industrial products company’s stock, valued at approximately $2,060,000. Deere & Company comprises about 0.9% of Taylor Securities Services Inc.’s portfolio, making the stock its 14th biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Strategic Advocates LLC purchased a new stake in Deere & Company during the 3rd quarter worth about $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in Deere & Company during the third quarter worth approximately $32,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 0.2%

NYSE DE opened at $590.37 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The business has a 50 day moving average price of $573.71 and a two-hundred day moving average price of $552.66. The stock has a market cap of $159.36 billion, a PE ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter last year, the firm posted $6.64 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is 36.71%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Bank of America dropped their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Sanford C. Bernstein raised their price target 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. Finally, Citigroup lowered their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen 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, the company has an average rating of “Moderate Buy” and an average price target of $639.58.

About Deere & Company

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.