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

Cyrus J. Lawrence LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 7.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 755 shares of the industrial products company’s stock after buying 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.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC increased its stake in shares of Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares in the last quarter. Fairscale Capital LLC purchased a new stake in Deere & Company in the second quarter worth about $26,000. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 4th quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $33,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $405.89 on Monday. The stock 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 stock has a 50 day moving average price of $376.24 and a 200-day moving average price of $382.88. Deere & Company has a one year low of $340.20 and a one year high of $417.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last announced its earnings results 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 business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm posted $10.20 earnings per share. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities analysts expect that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DE. Morgan Stanley lowered their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Evercore ISI upped their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup dropped their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $410.50.

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.