Cypress Capital Group Has $1.04 Million Stake in Deere & Company $DE

Cypress Capital Group raised its stake in Deere & Company (NYSE:DE) by 25.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,036 shares of the industrial products company’s stock after buying an additional 416 shares during the quarter. Cypress Capital Group’s holdings in Deere & Company were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in shares of Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after purchasing an additional 5,053 shares during the period. OLD National Bancorp IN raised its position in shares of Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after purchasing an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 798 shares during the period. Providence Capital Advisors LLC raised its position in shares of Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after purchasing an additional 303 shares during the period. Finally, Bragg Financial Advisors Inc raised its position in shares of Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after purchasing an additional 813 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 2.1%

DE stock opened at $446.76 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business has a 50 day moving average price of $479.15 and a two-hundred day moving average price of $488.45. The company has a market cap of $120.77 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 2.87 and a beta of 1.02. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business’s revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company earned $6.29 earnings per share. Analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DE shares. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Daiwa Capital Markets decreased their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Jefferies Financial Group decreased their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Finally, Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $513.88.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.