Cypress Asset Management Inc. TX Makes New $2.58 Million Investment in Deere & Company (NYSE:DE)

Cypress Asset Management Inc. TX acquired a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,898 shares of the industrial products company’s stock, valued at approximately $2,580,000.

Other hedge funds have also bought and sold shares of the company. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. YANKCOM Partnership purchased a new position in shares of Deere & Company during the 4th quarter valued at approximately $34,000. Orion Capital Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 1.1%

NYSE DE opened at $509.83 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The business’s fifty day simple moving average is $472.60 and its 200-day simple moving average is $458.72. The firm has a market cap of $138.37 billion, a PE ratio of 22.60, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the firm earned $8.53 EPS. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, March 31st. Deere & Company’s payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DE. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Thursday. Bank of America increased their price objective on Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. Robert W. Baird increased their price objective on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, UBS Group reduced their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $516.75.

Deere & Company Company Profile

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.