Deere & Company (NYSE:DE) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC raised its stake in Deere & Company (NYSE:DE) by 2.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,492 shares of the industrial products company’s stock after acquiring an additional 166 shares during the period. Procyon Advisors LLC’s holdings in Deere & Company were worth $3,047,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of DE. Pineridge Advisors LLC increased its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. YANKCOM Partnership bought a new stake in shares of Deere & Company in the 4th quarter worth about $34,000. Orion Capital Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company in the 4th quarter worth about $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth about $42,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Morgan Stanley boosted their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Truist Financial boosted their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, DA Davidson reaffirmed a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $515.19.

Deere & Company Price Performance

NYSE DE opened at $519.62 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The stock has a market cap of $140.73 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a 50-day moving average price of $479.20 and a two-hundred day moving average price of $465.95.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $8.53 EPS. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

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.