Myriad Asset Management Advisors LLC Acquires Shares of 3,407 Deere & Company $DE

Myriad Asset Management Advisors LLC acquired a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,407 shares of the industrial products company’s stock, valued at approximately $1,586,000.

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

Deere & Company Price Performance

Shares of Deere & Company stock opened at $560.95 on Thursday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $151.42 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The business’s 50-day moving average price is $573.05 and its 200-day moving average price is $548.11. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

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

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

DE has been the topic of several recent research reports. Sanford C. Bernstein increased their target price on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Robert W. Baird dropped their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Barclays raised their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Wells Fargo & Company increased their price objective on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $639.58.

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.