Raymond James & Associates Has $235.86 Million Stock Holdings in Deere & Company (NYSE:DE)

Raymond James & Associates boosted its stake in shares of Deere & Company (NYSE:DE) by 1.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 574,240 shares of the industrial products company’s stock after buying an additional 7,217 shares during the period. Raymond James & Associates owned approximately 0.21% of Deere & Company worth $235,863,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of DE. True Wealth Design LLC lifted its position in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares in the last quarter. Briaud Financial Planning Inc bought a new stake in Deere & Company in the 3rd quarter valued at approximately $25,000. Rakuten Securities Inc. acquired a new position in Deere & Company during the 4th quarter worth approximately $28,000. Naples Money Management LLC acquired a new position in Deere & Company during the 4th quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $29,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.2 %

NYSE:DE traded down $0.73 on Friday, hitting $393.33. The stock had a trading volume of 998,338 shares, compared to its average volume of 1,243,125. 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 has a 52 week low of $345.55 and a 52 week high of $450.00. The business’s fifty day moving average is $387.86 and its 200 day moving average is $383.61. The company has a market cap of $109.49 billion, a PE ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $6.55 earnings per share. On average, equities research analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is presently 17.12%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DE. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Wells Fargo & Company dropped their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Morgan Stanley initiated coverage on Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target for the company. Finally, Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company 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.