Synovus Financial Corp grew its holdings in shares of Deere & Company (NYSE:DE) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,338 shares of the industrial products company’s stock after purchasing an additional 793 shares during the quarter. Synovus Financial Corp’s holdings in Deere & Company were worth $1,856,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. DnB Asset Management AS increased its holdings in Deere & Company by 20.0% in the 2nd quarter. DnB Asset Management AS now owns 50,416 shares of the industrial products company’s stock worth $7,048,000 after acquiring an additional 8,400 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in Deere & Company by 63.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 13,907 shares of the industrial products company’s stock worth $1,944,000 after acquiring an additional 5,380 shares during the last quarter. CENTRAL TRUST Co increased its holdings in Deere & Company by 7.7% in the 2nd quarter. CENTRAL TRUST Co now owns 13,653 shares of the industrial products company’s stock worth $1,909,000 after acquiring an additional 977 shares during the last quarter. Cullinan Associates Inc. boosted its stake in Deere & Company by 29.2% in the 2nd quarter. Cullinan Associates Inc. now owns 30,815 shares of the industrial products company’s stock worth $4,308,000 after purchasing an additional 6,960 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Deere & Company by 31.4% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,442 shares of the industrial products company’s stock worth $761,000 after purchasing an additional 1,300 shares during the period. 66.47% of the stock is owned by hedge funds and other institutional investors.
DE has been the subject of several analyst reports. OTR Global downgraded Deere & Company to a “$139.21” rating in a research note on Wednesday, July 18th. UBS Group cut their target price on Deere & Company from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Goldman Sachs Group downgraded Deere & Company from a “conviction-buy” rating to a “buy” rating in a research note on Monday, July 16th. Argus cut their target price on Deere & Company to $160.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Finally, Wells Fargo & Co cut their target price on Deere & Company from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. Deere & Company currently has a consensus rating of “Buy” and a consensus target price of $177.75.
Shares of DE opened at $142.65 on Tuesday. The stock has a market cap of $45.59 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 2.16 and a beta of 0.97. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 2.59. Deere & Company has a 12-month low of $128.32 and a 12-month high of $175.26.
Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.75 by ($0.16). The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.18 billion. Deere & Company had a net margin of 5.82% and a return on equity of 28.51%. The business’s revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. On average, equities analysts forecast that Deere & Company will post 9.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, September 28th were given a dividend of $0.69 per share. The ex-dividend date was Thursday, September 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.93%. Deere & Company’s dividend payout ratio (DPR) is presently 41.32%.
About Deere & Company
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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