Procyon Advisors LLC Acquires 48 Shares of Deere & Company (NYSE:DE)

Procyon Advisors LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,809 shares of the industrial products company’s stock after buying an additional 48 shares during the period. Procyon Advisors LLC’s holdings in Deere & Company were worth $3,922,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Briaud Financial Planning Inc bought a new position in shares of Deere & Company in the 3rd quarter worth $25,000. Retirement Group LLC lifted its holdings in shares of Deere & Company by 264.7% in the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 45 shares in the last quarter. ZRC Wealth Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth $28,000. Worth Asset Management LLC bought a new position in shares of Deere & Company in the 1st quarter worth $28,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Deere & Company in the 3rd quarter worth $37,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE traded up $1.98 during trading hours on Thursday, hitting $411.12. The stock had a trading volume of 183,451 shares, compared to its average volume of 1,510,762. The company’s fifty day simple moving average is $379.82 and its 200 day simple moving average is $381.32. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The stock has a market cap of $114.44 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter last year, the firm posted $6.55 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Evercore ISI increased their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Morgan Stanley assumed coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target for the company. JPMorgan Chase & Co. increased their price target on Deere & Company from $380.00 to $385.00 and gave the company a “neutral” rating in a research report on Monday, December 4th. Finally, Citigroup lowered their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $431.69.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.