Syon Capital LLC Buys 961 Shares of Deere & Company $DE

Syon Capital LLC boosted its holdings in shares of Deere & Company (NYSE:DEFree Report) by 33.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,816 shares of the industrial products company’s stock after purchasing an additional 961 shares during the period. Syon Capital LLC’s holdings in Deere & Company were worth $1,777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Norges Bank bought a new position in Deere & Company during the fourth quarter worth about $1,715,633,000. Capital World Investors lifted its stake in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after purchasing an additional 3,358,264 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after purchasing an additional 1,893,972 shares during the period. M&T Bank Corp lifted its stake in Deere & Company by 1,199.8% during the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after purchasing an additional 1,721,239 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Deere & Company by 278.0% during the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after purchasing an additional 358,687 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup cut their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research note on Monday, June 1st. Wolfe Research raised their price target on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Bank of America cut their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, Raymond James Financial cut their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Read Our Latest Stock Analysis on DE

Deere & Company Stock Performance

NYSE DE opened at $583.80 on Monday. The firm has a market cap of $157.59 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.16 and a beta of 0.92. The company has a 50 day moving average of $572.86 and a 200-day moving average of $546.09. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $6.64 earnings per share. On average, equities analysts forecast that Deere & Company will post 18.08 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

About Deere & Company

(Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

Further Reading

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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