Cyrus J. Lawrence LLC Boosts Stock Position in Deere & Company (NYSE:DE)

Cyrus J. Lawrence LLC increased its holdings in Deere & Company (NYSE:DE) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 755 shares of the industrial products company’s stock after purchasing an additional 51 shares during the quarter. Cyrus J. Lawrence LLC’s holdings in Deere & Company were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DE. Gilbert & Cook Inc. increased its position in Deere & Company by 5.4% during the 4th quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 102 shares during the period. 9258 Wealth Management LLC boosted its stake in shares of Deere & Company by 9.8% during the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock valued at $790,000 after purchasing an additional 176 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of Deere & Company by 62.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock valued at $551,000 after buying an additional 552 shares during the period. Congress Wealth Management LLC DE raised its stake in Deere & Company by 2.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 5,309 shares of the industrial products company’s stock worth $2,123,000 after buying an additional 136 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Deere & Company by 1.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 79,525 shares of the industrial products company’s stock worth $31,800,000 after buying an additional 1,036 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of a number of research analyst reports. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Truist Financial reaffirmed a “buy” rating and issued a $443.00 price target (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Oppenheimer dropped their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Evercore ISI increased their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets began coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Thirteen research 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, Deere & Company currently has a consensus rating of “Hold” and an average target price of $410.50.

Deere & Company Price Performance

Shares of NYSE:DE opened at $405.89 on Monday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market cap of $111.85 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The business has a 50-day simple moving average of $376.24 and a two-hundred day simple moving average of $382.88. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $417.46.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the company earned $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. On average, analysts expect that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Deere & Company 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.