Cypress Capital Group Has $687,000 Stock Position in Deere & Company (NYSE:DE)

Cypress Capital Group reduced its stake in shares of Deere & Company (NYSE:DE) by 39.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,620 shares of the industrial products company’s stock after selling 1,046 shares during the period. Cypress Capital Group’s holdings in Deere & Company were worth $687,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DE. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on DE. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Oppenheimer raised their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Citigroup raised their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average price target of $457.22.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Trading Up 2.1 %

Shares of Deere & Company stock opened at $468.08 on Thursday. The business has a fifty day simple moving average of $458.83 and a two-hundred day simple moving average of $428.17. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The company has a market capitalization of $127.48 billion, a price-to-earnings ratio of 20.75, a P/E/G ratio of 2.14 and a beta of 0.98. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

Deere & 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.