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

Sycomore Asset Management raised its holdings in Deere & Company (NYSE:DE) by 24.2% during the 3rd quarter, Holdings Channel reports. The firm owned 12,425 shares of the industrial products company’s stock after purchasing an additional 2,419 shares during the quarter. Sycomore Asset Management’s holdings in Deere & Company were worth $5,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mattern Wealth Management LLC increased its position in Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the last quarter. Carret Asset Management LLC increased its position in shares of Deere & Company by 0.3% in the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after acquiring an additional 25 shares in the last quarter. Round Rock Advisors LLC increased its position in shares of Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 25 shares in the last quarter. Centaurus Financial Inc. increased its position in shares of Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. increased its position in shares of Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE:DE 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. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The company has a fifty day moving average of $403.47 and a 200 day moving average of $385.64. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market cap of $107.78 billion, a PE ratio of 13.29, a PEG ratio of 1.50 and a beta of 0.93.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid 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 is currently 20.06%.

Analysts Set New Price Targets

DE has been the subject of a number of recent analyst reports. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley reduced their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Oppenheimer reduced their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Truist Financial increased their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.