Deere & Company (NYSE:DE) Shares Purchased by Syon Capital LLC

Syon Capital LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 20.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,665 shares of the industrial products company’s stock after buying an additional 283 shares during the period. Syon Capital LLC’s holdings in Deere & Company were worth $666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Briaud Financial Planning Inc acquired a new position in Deere & Company during the third quarter worth $25,000. ZRC Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $28,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $29,000. Finally, Bfsg LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE traded down $0.73 during midday trading on Friday, hitting $393.33. The company had a trading volume of 996,579 shares, compared to its average volume of 1,472,844. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The stock has a market cap of $109.49 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 1.48 and a beta of 1.04. The firm has a fifty day simple moving average of $387.20 and a two-hundred day simple moving average of $383.54. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same period last year, the firm posted $6.55 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Evercore ISI boosted their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Truist Financial assumed coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Citigroup dropped their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $433.28.

About Deere & Company

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.