Deere & Company (DE) Shares Bought by Synovus Financial Corp
Synovus Financial Corp grew its holdings in Deere & Company (NYSE:DE) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,922 shares of the industrial products company’s stock after purchasing an additional 499 shares during the period. Synovus Financial Corp’s holdings in Deere & Company were worth $1,748,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Bartlett & Co. LLC lifted its position in Deere & Company by 552.8% during the third quarter. Bartlett & Co. LLC now owns 105,048 shares of the industrial products company’s stock valued at $13,193,000 after purchasing an additional 88,955 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Deere & Company by 3.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,139,980 shares of the industrial products company’s stock valued at $140,891,000 after purchasing an additional 40,269 shares in the last quarter. Cutler Investment Counsel LLC lifted its position in Deere & Company by 1.3% during the second quarter. Cutler Investment Counsel LLC now owns 88,361 shares of the industrial products company’s stock valued at $10,921,000 after purchasing an additional 1,164 shares in the last quarter. Sun Life Financial INC lifted its position in Deere & Company by 12,552.9% during the second quarter. Sun Life Financial INC now owns 2,151 shares of the industrial products company’s stock valued at $266,000 after purchasing an additional 2,134 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its position in Deere & Company by 22.3% during the second quarter. Pictet Asset Management Ltd. now owns 808,264 shares of the industrial products company’s stock valued at $98,980,000 after purchasing an additional 147,626 shares in the last quarter. 67.75% of the stock is owned by institutional investors and hedge funds.
Shares of Deere & Company (NYSE DE) opened at $149.45 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.95 and a debt-to-equity ratio of 2.71. The firm has a market capitalization of $48,409.80, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.77. Deere & Company has a twelve month low of $100.05 and a twelve month high of $152.68.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, December 29th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.61%. Deere & Company’s payout ratio is presently 36.14%.
In related news, insider Pentz Markwart Von sold 22,095 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $120.10, for a total value of $2,653,609.50. Following the transaction, the insider now directly owns 51,626 shares of the company’s stock, valued at approximately $6,200,282.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rajesh Kalathur sold 4,519 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total value of $672,969.48. Following the completion of the transaction, the chief financial officer now directly owns 36,288 shares in the company, valued at $5,404,008.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,486 shares of company stock worth $29,869,619. Insiders own 0.85% of the company’s stock.
DE has been the topic of a number of recent analyst reports. Jefferies Group reissued a “hold” rating and set a $125.00 price target on shares of Deere & Company in a report on Wednesday, August 9th. Deutsche Bank reaffirmed a “hold” rating and issued a $139.00 target price (up from $135.00) on shares of Deere & Company in a report on Friday, August 11th. Stifel Nicolaus lifted their target price on Deere & Company to $161.00 and gave the stock a “buy” rating in a report on Monday, November 27th. Bank of America reduced their price objective on Deere & Company from $145.00 to $130.00 and set a “neutral” rating on the stock in a research note on Monday, August 21st. Finally, Robert W. Baird lowered Deere & Company from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $140.00 to $130.00 in a research report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $140.33.
About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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