Taylor Securities Services Inc. Purchases New Holdings in Deere & Company $DE

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

A number of other institutional investors also recently made changes to their positions in DE. Cary Street Partners Financial LLC grew its holdings in Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after acquiring an additional 1,086 shares in the last quarter. Spectrum Financial Alliance Ltd LLC lifted its position in shares of Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after purchasing an additional 30,553 shares during the last quarter. Westpac Banking Corp grew its stake in Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after purchasing an additional 3,047 shares in the last quarter. Legal & General Group Plc increased its holdings in Deere & Company by 7.6% in the third quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock valued at $755,385,000 after buying an additional 115,975 shares during the last quarter. Finally, Eldred Rock Partners LLC bought a new stake in Deere & Company in the fourth quarter valued at about $13,166,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.2%

Shares of Deere & Company stock opened at $590.37 on Friday. The stock has a market capitalization of $159.36 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The business’s 50 day simple moving average is $573.71 and its 200-day simple moving average is $552.66.

Deere & Company (NYSE:DE) last released 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. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.64 EPS. Equities research analysts forecast that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on DE. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. DA Davidson lowered their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a research report on Wednesday, April 8th. Wells Fargo & Company raised their price objective on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Finally, Morgan Stanley boosted their target price on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.