Syon Capital LLC Has $1.78 Million Stake in Deere & Company $DE

Syon Capital LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 33.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,816 shares of the industrial products company’s stock after buying an additional 961 shares during the quarter. Syon Capital LLC’s holdings in Deere & Company were worth $1,777,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DE. Norges Bank acquired a new position in Deere & Company during the fourth quarter worth $1,715,633,000. Capital World Investors boosted its holdings 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 valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $932,870,000 after acquiring an additional 1,893,972 shares during the period. M&T Bank Corp boosted its holdings 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 valued at $868,149,000 after acquiring an additional 1,721,239 shares during the period. Finally, Van ECK Associates Corp boosted its holdings 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 valued at $223,005,000 after acquiring an additional 358,687 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.1%

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

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter last year, the company earned $6.64 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 18.08 EPS for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

DE has been the subject of a number of recent analyst reports. Bank of America decreased their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Oppenheimer restated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Argus upped their price target on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Wolfe Research upped their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Finally, Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a report on Wednesday, April 8th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Company Profile

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.