Taylor Hoffman Wealth Management Boosts Stock Holdings in Deere & Company (NYSE:DE)

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Taylor Hoffman Wealth Management increased its holdings in shares of Deere & Company (NYSE:DE) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,996 shares of the industrial products company’s stock after acquiring an additional 1,034 shares during the period. Deere & Company makes up 2.6% of Taylor Hoffman Wealth Management’s investment portfolio, making the stock its 3rd largest holding. Taylor Hoffman Wealth Management’s holdings in Deere & Company were worth $3,710,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. DRW Securities LLC purchased a new position in shares of Deere & Company during the second quarter valued at approximately $227,000. Clarius Group LLC raised its holdings in shares of Deere & Company by 6.3% during the second quarter. Clarius Group LLC now owns 1,984 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 117 shares during the last quarter. Buckingham Asset Management LLC raised its holdings in shares of Deere & Company by 6.4% during the second quarter. Buckingham Asset Management LLC now owns 3,766 shares of the industrial products company’s stock valued at $624,000 after purchasing an additional 226 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of Deere & Company by 15.4% during the second quarter. Cetera Advisor Networks LLC now owns 14,377 shares of the industrial products company’s stock valued at $2,388,000 after purchasing an additional 1,917 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 0.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 649,925 shares of the industrial products company’s stock valued at $107,699,000 after purchasing an additional 2,598 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

In other Deere & Company news, Chairman Samuel R. Allen sold 114,253 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the completion of the transaction, the chairman now owns 423,497 shares in the company, valued at $75,509,515.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by company insiders.

DE stock traded up $0.47 during trading on Friday, hitting $178.36. 1,676,855 shares of the company’s stock traded hands, compared to its average volume of 2,024,434. Deere & Company has a 52 week low of $132.68 and a 52 week high of $179.70. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99. The business has a fifty day simple moving average of $170.60 and a 200 day simple moving average of $159.93. The stock has a market capitalization of $56.34 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 2.40 and a beta of 1.15.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $9.38 billion. During the same quarter last year, the business earned $2.59 EPS. Deere & Company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 9.96 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a dividend of $0.76 per share. The ex-dividend date was Friday, September 27th. This represents a $3.04 annualized dividend and a yield of 1.70%. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.

Several research firms have recently weighed in on DE. Bank of America decreased their price objective on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a report on Monday, August 19th. UBS Group decreased their price objective on shares of Deere & Company from $167.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Wells Fargo & Co cut shares of Deere & Company from an “outperform” rating to a “market perform” rating and set a $170.00 price objective for the company. in a report on Thursday, September 12th. Morgan Stanley upped their target price on shares of Deere & Company from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Barclays set a $180.00 target price on shares of Deere & Company and gave the company a “buy” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. Deere & Company currently has an average rating of “Hold” and an average price target of $169.21.

Deere & Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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