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

Synovus Financial Corp trimmed its position in Deere & Company (NYSE:DE) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,361 shares of the industrial products company’s stock after selling 1,103 shares during the quarter. Synovus Financial Corp’s holdings in Deere & Company were worth $4,742,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Mattern Wealth Management LLC boosted its stake in shares of Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after buying an additional 25 shares during the period. Carret Asset Management LLC raised its holdings in Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after acquiring an additional 25 shares in the last quarter. Round Rock Advisors LLC lifted its position in shares of Deere & Company by 2.0% during the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 25 shares during the period. Centaurus Financial Inc. grew its holdings in shares of Deere & Company by 2.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. increased its position in shares of Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after purchasing an additional 26 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $440.44 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The business’s 50 day simple moving average is $420.61 and its 200 day simple moving average is $392.67. The stock has a market capitalization of $120.50 billion, a PE ratio of 17.20, a PEG ratio of 1.91 and a beta of 0.96.

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

Deere & Company Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. 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. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $443.28.

Deere & 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.