Floyd Financial Group LLC Acquires 1,767 Shares of Deere & Company $DE

Floyd Financial Group LLC increased its holdings in Deere & Company (NYSE:DE) by 320.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,319 shares of the industrial products company’s stock after acquiring an additional 1,767 shares during the quarter. Floyd Financial Group LLC’s holdings in Deere & Company were worth $1,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Strategic Advocates LLC purchased a new stake in Deere & Company in the third quarter worth about $25,000. Key Capital Management INC purchased a new position in Deere & Company during the fourth quarter valued at $27,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $29,000. McIlrath & Eck LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company in the 3rd quarter worth about $32,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. Robert W. Baird decreased their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Truist Financial cut their price objective on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. Sanford C. Bernstein raised their target price on shares of Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a report on Wednesday, April 8th. Finally, Wolfe Research boosted their price target on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Stock Up 0.3%

NYSE:DE opened at $590.37 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The firm has a market cap of $159.36 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a 50-day simple moving average of $574.09 and a two-hundred day simple moving average of $552.39.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

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.