Sycomore Asset Management Increases Position in Deere & Company (NYSE:DE)

Sycomore Asset Management boosted its stake in shares of Deere & Company (NYSE:DE) by 24.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,425 shares of the industrial products company’s stock after acquiring an additional 2,419 shares during the period. Sycomore Asset Management’s holdings in Deere & Company were worth $5,113,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fairscale Capital LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC raised its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the third quarter worth about $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company during the second quarter worth about $37,000. Finally, Centennial Bank AR boosted its stake in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.2 %

Deere & Company stock traded up $4.50 during mid-day trading on Thursday, reaching $393.95. 567,464 shares of the company were exchanged, compared to its average volume of 1,429,639. The business has a fifty day moving average of $403.47 and a 200 day moving average of $385.64. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The firm has a market cap of $107.78 billion, a P/E ratio of 13.29, a PEG ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the prior year, the company posted $10.20 EPS. Research analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Truist Financial boosted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Evercore ISI upped their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $420.69.

Deere & 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.