Sycomore Asset Management Acquires 3,245 Shares of Deere & Company (NYSE:DE)

Sycomore Asset Management grew its holdings in Deere & Company (NYSE:DE) by 48.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,006 shares of the industrial products company’s stock after purchasing an additional 3,245 shares during the quarter. Sycomore Asset Management’s holdings in Deere & Company were worth $3,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of DE. Clearbridge Investments LLC increased its position in Deere & Company by 4.9% during the 2nd quarter. Clearbridge Investments LLC now owns 234,952 shares of the industrial products company’s stock worth $87,785,000 after purchasing an additional 10,899 shares in the last quarter. 3Chopt Investment Partners LLC bought a new stake in shares of Deere & Company during the second quarter worth $875,000. Regency Capital Management Inc. DE increased its holdings in shares of Deere & Company by 8.0% during the second quarter. Regency Capital Management Inc. DE now owns 6,648 shares of the industrial products company’s stock worth $2,484,000 after buying an additional 490 shares in the last quarter. Chase Investment Counsel Corp acquired a new position in shares of Deere & Company during the second quarter worth $971,000. Finally, EP Wealth Advisors LLC lifted its stake in shares of Deere & Company by 76.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 5,069 shares of the industrial products company’s stock valued at $1,894,000 after acquiring an additional 2,190 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $417.33 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a twelve month low of $340.20 and a twelve month high of $419.63. The company has a fifty day moving average of $380.26 and a 200-day moving average of $384.41. The firm has a market capitalization of $115.00 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced 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. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.20 earnings per share. As a group, sell-side analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DE. Evercore ISI boosted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Bank of America upped their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Citigroup cut their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Raymond James assumed coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus target price of $410.50.

Deere & 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.