Cypress Wealth Services LLC Takes $542,000 Position in Deere & Company $DE

Key Points

• Cypress Wealth Services LLC has acquired a new stake in Deere & Company, purchasing 1,066 shares valued at approximately $542,000 during the second quarter.
• Deere & Company reported $4.75 EPS, surpassing analyst expectations of $4.62, but its revenue decreased by 9.0% from the same quarter last year.
• The company will pay a quarterly dividend of $1.62 on November 10th, with a current dividend yield of 1.5%.

Cypress Wealth Services LLC bought a new stake in Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,066 shares of the industrial products company's stock, valued at approximately $542,000.

A number of other hedge funds have also modified their holdings of DE. Brighton Jones LLC raised its position in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 1,278 shares during the last quarter. GAMMA Investing LLC increased its position in Deere & Company by 30.6% during the first quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company's stock worth $1,753,000 after purchasing an additional 876 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Deere & Company by 0.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,020 shares of the industrial products company's stock worth $42,250,000 after purchasing an additional 826 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Deere & Company during the first quarter worth about $78,000. Finally, Ritholtz Wealth Management increased its position in Deere & Company by 34.7% during the first quarter. Ritholtz Wealth Management now owns 4,606 shares of the industrial products company's stock worth $2,162,000 after purchasing an additional 1,187 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of DE opened at $439.00 on Tuesday. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The stock has a market cap of $118.67 billion, a PE ratio of 22.95, a P/E/G ratio of 2.87 and a beta of 1.02. The firm has a 50-day simple moving average of $477.70 and a two-hundred day simple moving average of $488.26. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm posted $6.29 earnings per share. The business's revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. Deere & Company's dividend payout ratio (DPR) is presently 33.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DE shares. Truist Financial raised their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Oppenheimer cut their price objective on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research report on Thursday, September 18th. Daiwa Capital Markets cut their price objective on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research report on Thursday, September 25th. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, October 4th. Finally, Citigroup dropped their price target on shares of Deere & Company from $525.00 to $515.00 and set a "neutral" rating for the company in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $513.88.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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