Cypress Capital Group Has $1.11 Million Stock Position in Deere & Company (NYSE:DE)

Cypress Capital Group increased its holdings in Deere & Company (NYSE:DE) by 36.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,666 shares of the industrial products company’s stock after purchasing an additional 708 shares during the quarter. Cypress Capital Group’s holdings in Deere & Company were worth $1,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. King Luther Capital Management Corp raised its holdings in Deere & Company by 11.9% during the 3rd quarter. King Luther Capital Management Corp now owns 3,032 shares of the industrial products company’s stock worth $1,265,000 after purchasing an additional 322 shares during the last quarter. Cornerstone Advisors LLC lifted its holdings in Deere & Company by 2.4% in the third quarter. Cornerstone Advisors LLC now owns 21,300 shares of the industrial products company’s stock valued at $8,889,000 after buying an additional 500 shares during the period. Moors & Cabot Inc. raised its position in shares of Deere & Company by 0.7% in the 3rd quarter. Moors & Cabot Inc. now owns 16,515 shares of the industrial products company’s stock worth $6,892,000 after acquiring an additional 109 shares in the last quarter. EagleClaw Capital Managment LLC boosted its position in shares of Deere & Company by 3.0% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 1,725 shares of the industrial products company’s stock valued at $720,000 after purchasing an additional 50 shares in the last quarter. Finally, Altman Advisors Inc. bought a new stake in shares of Deere & Company during the 3rd quarter valued at about $1,523,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Truist Financial increased their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. JPMorgan Chase & Co. raised their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Finally, Citigroup raised their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

NYSE DE opened at $436.28 on Friday. The firm’s fifty day simple moving average is $405.95 and its two-hundred day simple moving average is $386.18. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 12-month low of $340.20 and a 12-month high of $442.05. The firm has a market capitalization of $119.37 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.54 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period in the previous year, the company earned $8.26 earnings per share. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. Analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

About Deere & Company

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.