Myriad Asset Management Advisors LLC Takes $1.59 Million Position in Deere & Company $DE

Myriad Asset Management Advisors LLC acquired a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,407 shares of the industrial products company’s stock, valued at approximately $1,586,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Zions Bancorporation National Association UT raised its stake in Deere & Company by 189.8% during the 4th quarter. Zions Bancorporation National Association UT now owns 1,362 shares of the industrial products company’s stock worth $634,000 after buying an additional 892 shares during the period. GWN Securities Inc. acquired a new position in Deere & Company during the 4th quarter worth approximately $210,000. Amova Asset Management Americas Inc. raised its stake in Deere & Company by 14.8% during the 4th quarter. Amova Asset Management Americas Inc. now owns 219,991 shares of the industrial products company’s stock worth $102,428,000 after buying an additional 28,278 shares during the period. Paragon Private Wealth Management LLC raised its stake in Deere & Company by 27.8% during the 4th quarter. Paragon Private Wealth Management LLC now owns 3,204 shares of the industrial products company’s stock worth $1,492,000 after buying an additional 696 shares during the period. Finally, Portfolio Design Labs LLC raised its stake in Deere & Company by 3.1% during the 4th quarter. Portfolio Design Labs LLC now owns 2,387 shares of the industrial products company’s stock worth $1,111,000 after buying an additional 72 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Sanford C. Bernstein boosted their price objective on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. BMO Capital Markets boosted their price objective on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Finally, Citigroup decreased their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Stock Down 2.8%

DE opened at $560.95 on Thursday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The stock has a market cap of $151.42 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.14 and a beta of 0.92. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company’s 50-day moving average price is $573.05 and its two-hundred day moving average price is $548.11.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period in the prior year, the company earned $6.64 earnings per share. Deere & Company’s revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts expect that Deere & Company will post 18.1 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.