Cypress Capital Group Acquires 416 Shares of Deere & Company $DE

by · The Markets Daily

Cypress Capital Group lifted its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 25.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,036 shares of the industrial products company’s stock after acquiring 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 SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Nuveen LLC bought a new position in shares of Deere & Company during the 1st quarter worth approximately $571,073,000. Voya Investment Management LLC boosted its stake in shares of Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after acquiring an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the period. Invesco Ltd. boosted its stake in shares of Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Deere & Company by 874.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock worth $124,028,000 after acquiring an additional 218,893 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. Wolfe Research dropped their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Truist Financial lifted their price target on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group dropped their price target 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, Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $513.88.

Check Out Our Latest Research Report on DE

Deere & Company Trading Down 2.1%

Shares of DE opened at $446.76 on Monday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The business’s fifty day moving average is $479.15 and its 200-day moving average is $488.45. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market cap of $120.77 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.87 and a beta of 1.02.

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

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.5%. Deere & Company’s payout ratio is currently 33.87%.

Deere & Company Company Profile

(Free Report)

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.

Further Reading

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