Floyd Financial Group LLC Buys Shares of 576 Deere & Company (NYSE:DE)

Floyd Financial Group LLC bought a new position in Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 576 shares of the industrial products company’s stock, valued at approximately $235,000.

Several other hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC increased its position in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after buying an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after buying an additional 852,885 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC grew its stake in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DE shares. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley raised their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Truist Financial lifted their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $441.72.

Deere & Company Trading Up 0.5 %

Deere & Company stock opened at $432.17 on Wednesday. The firm has a market cap of $118.24 billion, a PE ratio of 16.88, a P/E/G ratio of 1.88 and a beta of 0.96. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The stock’s 50 day simple moving average is $429.20 and its two-hundred day simple moving average is $400.87. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the firm posted $8.26 earnings per share. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.50%. Deere & Company’s dividend payout ratio (DPR) is 22.97%.

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.