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

Taylor Hoffman Wealth Management raised its position in shares of Deere & Company (NYSE:DE) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,996 shares of the industrial products company’s stock after acquiring an additional 1,034 shares during the quarter. Deere & Company comprises 2.6% of Taylor Hoffman Wealth Management’s investment portfolio, making the stock its 3rd biggest holding. Taylor Hoffman Wealth Management’s holdings in Deere & Company were worth $3,710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. KLCM Advisors Inc. increased its stake in Deere & Company by 4.7% in the 3rd quarter. KLCM Advisors Inc. now owns 1,319 shares of the industrial products company’s stock valued at $222,000 after buying an additional 59 shares during the last quarter. Endurance Wealth Management Inc. increased its stake in shares of Deere & Company by 3.9% during the 2nd quarter. Endurance Wealth Management Inc. now owns 1,614 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 60 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Deere & Company by 69.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 62 shares during the last quarter. Nelson Roberts Investment Advisors LLC increased its stake in shares of Deere & Company by 34.8% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 70 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its stake in shares of Deere & Company by 0.6% during the 2nd quarter. Wesbanco Bank Inc. now owns 13,626 shares of the industrial products company’s stock worth $2,258,000 after purchasing an additional 75 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

DE traded up $0.47 on Friday, hitting $178.36. The company’s stock had a trading volume of 1,676,855 shares, compared to its average volume of 2,024,434. The company’s 50 day simple moving average is $170.60 and its 200-day simple moving average is $159.93. The firm has a market cap of $56.34 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. Deere & Company has a 12 month low of $132.68 and a 12 month high of $179.70. The company has a quick ratio of 1.73, a current ratio of 1.99 and a debt-to-equity ratio of 2.38.

Deere & Company (NYSE:DE) last announced its quarterly earnings results 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 firm had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $9.38 billion. During the same period in the previous year, the business earned $2.59 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts predict that Deere & Company will post 9.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, September 27th. Deere & Company’s payout ratio is 32.37%.

In other Deere & Company news, Chairman Samuel R. Allen sold 114,253 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $178.30, for a total value of $20,371,309.90. Following the completion of the transaction, the chairman now directly owns 423,497 shares of the company’s stock, valued at approximately $75,509,515.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by company insiders.

Several equities research analysts have recently issued reports on the stock. Stephens assumed coverage on shares of Deere & Company in a research note on Wednesday, August 14th. They set an “equal weight” rating and a $160.00 price target for the company. Bank of America decreased their price target on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Deutsche Bank decreased their price target on shares of Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Credit Suisse Group restated an “outperform” rating and set a $197.00 price target (up previously from $176.00) on shares of Deere & Company in a research note on Monday, August 19th. Finally, UBS Group cut 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. Two equities 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. The stock currently has an average rating of “Hold” and a consensus price target of $169.21.

Deere & Company 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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