Synovus Financial Corp Has $4.74 Million Position in Deere & Company (NYSE:DE)

Synovus Financial Corp lessened its holdings in shares of Deere & Company (NYSE:DE) by 8.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 11,361 shares of the industrial products company’s stock after selling 1,103 shares during the period. Synovus Financial Corp’s holdings in Deere & Company were worth $4,742,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Tidal Investments LLC grew its stake in shares of Deere & Company by 56.3% during the third quarter. Tidal Investments LLC now owns 38,689 shares of the industrial products company’s stock worth $16,146,000 after purchasing an additional 13,934 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in Deere & Company by 162.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,563 shares of the industrial products company’s stock worth $8,999,000 after buying an additional 13,334 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Deere & Company during the 3rd quarter worth about $1,252,000. Pine Valley Investments Ltd Liability Co increased its stake in shares of Deere & Company by 13.9% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,879 shares of the industrial products company’s stock valued at $4,131,000 after acquiring an additional 1,205 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its position in shares of Deere & Company by 6.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,098 shares of the industrial products company’s stock valued at $458,000 after acquiring an additional 68 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DE shares. Truist Financial increased their target price on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $443.28.

Deere & Company Trading Up 0.2 %

Deere & Company stock opened at $440.44 on Friday. The stock has a 50-day simple moving average of $420.61 and a 200 day simple moving average of $392.67. The stock has a market capitalization of $120.50 billion, a P/E ratio of 17.20, a PEG ratio of 1.91 and a beta of 0.96. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% on a year-over-year basis. During the same period last year, the firm posted $8.26 earnings per share. Analysts expect that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

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.