Deere & Company $DE Stake Decreased by Synovus Financial Corp

Key Points

• Synovus Financial Corp reduced its stake in Deere & Company by 7.0%, selling 788 shares to hold a total of 10,545 shares valued at $4.95 million.
• Recent analyst reports have led to upgrades for Deere's stock, with Melius raising it to a "buy" and Oppenheimer increasing the price target to $566.00, while Citigroup lowered its target to $525.00.
• Deere & Company announced a quarterly dividend of $1.62 per share, representing an annualized dividend yield of 1.3%, with a payout ratio of 33.87%.

Synovus Financial Corp lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,545 shares of the industrial products company's stock after selling 788 shares during the period. Synovus Financial Corp's holdings in Deere & Company were worth $4,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hughes Financial Services LLC bought a new stake in shares of Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares during the period. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $39,000. Finally, Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $42,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Oppenheimer lifted their price target on shares of Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Sunday. Citigroup decreased their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Deere & Company has a consensus rating of "Moderate Buy" and a consensus price target of $523.87.

Deere & Company Trading Up 1.7%

NYSE DE opened at $495.0920 on Monday. The firm's 50 day moving average price is $508.58 and its two-hundred day moving average price is $490.77. The stock has a market cap of $134.09 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 3.18 and a beta of 1.06. Deere & Company has a twelve month low of $374.46 and a twelve month high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

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

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is 33.87%.

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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