Synovus Financial Corp boosted its stake in shares of Deere & Company (NYSE:DE) by 7.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 26,778 shares of the industrial products company’s stock after purchasing an additional 1,897 shares during the period. Synovus Financial Corp’s holdings in Deere & Company were worth $4,281,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wesbanco Bank Inc. grew its position in shares of Deere & Company by 5.1% during the 1st quarter. Wesbanco Bank Inc. now owns 13,551 shares of the industrial products company’s stock valued at $2,166,000 after acquiring an additional 663 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Deere & Company by 10.9% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,042 shares of the industrial products company’s stock valued at $486,000 after buying an additional 300 shares in the last quarter. First Trust Advisors LP lifted its stake in Deere & Company by 34.6% in the 1st quarter. First Trust Advisors LP now owns 139,953 shares of the industrial products company’s stock valued at $22,370,000 after buying an additional 35,975 shares in the last quarter. Summit Securities Group LLC purchased a new position in Deere & Company in the 1st quarter valued at about $240,000. Finally, Wetherby Asset Management Inc. lifted its stake in Deere & Company by 18.4% in the 1st quarter. Wetherby Asset Management Inc. now owns 7,285 shares of the industrial products company’s stock valued at $1,164,000 after buying an additional 1,131 shares in the last quarter. 67.80% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the stock. DZ Bank lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Credit Suisse Group decreased their target price on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 19th. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Monday, February 4th. Barclays reissued a “buy” rating and issued a $180.00 target price on shares of Deere & Company in a research note on Tuesday, February 19th. Finally, Berenberg Bank started coverage on shares of Deere & Company in a research note on Thursday, May 9th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $161.50.
Deere & Company (NYSE:DE) last posted its earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.57 by ($0.05). The company had revenue of $10.27 billion during the quarter, compared to analyst estimates of $10.19 billion. Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $3.14 EPS. On average, sell-side analysts expect that Deere & Company will post 10.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th were paid a $0.76 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.04 annualized dividend and a dividend yield of 2.19%. Deere & Company’s dividend payout ratio (DPR) is 32.37%.
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Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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