Hancock Whitney Corp cut its position in Deere & Company (NYSE:DE) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,249 shares of the industrial products company’s stock after selling 192 shares during the quarter. Hancock Whitney Corp’s holdings in Deere & Company were worth $2,469,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Worldquant Millennium Advisors LLC purchased a new position in shares of Deere & Company during the 3rd quarter worth approximately $41,590,000. California Public Employees Retirement System raised its stake in shares of Deere & Company by 38.6% during the 3rd quarter. California Public Employees Retirement System now owns 696,095 shares of the industrial products company’s stock worth $117,417,000 after buying an additional 193,930 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Deere & Company by 11.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,418,168 shares of the industrial products company’s stock worth $245,712,000 after buying an additional 141,174 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Deere & Company by 100.4% during the 4th quarter. Retirement Systems of Alabama now owns 276,338 shares of the industrial products company’s stock worth $47,878,000 after buying an additional 138,450 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Deere & Company during the 3rd quarter worth approximately $20,723,000. 67.30% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on DE. Deutsche Bank reissued a “hold” rating and set a $169.00 target price (up from $155.00) on shares of Deere & Company in a research note on Wednesday, November 20th. Wells Fargo & Co increased their target price on Deere & Company from $177.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Morgan Stanley increased their target price on Deere & Company from $180.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. BMO Capital Markets increased their target price on Deere & Company from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Citigroup cut their target price on Deere & Company from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Deere & Company presently has a consensus rating of “Hold” and an average price target of $172.28.
NYSE DE opened at $168.07 on Friday. Deere & Company has a 1-year low of $132.68 and a 1-year high of $180.48. The company has a market capitalization of $52.91 billion, a P/E ratio of 16.57, a PEG ratio of 4.04 and a beta of 1.14. The business has a 50 day moving average price of $170.90 and a 200 day moving average price of $167.18. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.04 and a quick ratio of 1.80.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.01. Deere & Company had a return on equity of 27.11% and a net margin of 8.29%. The firm had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same period last year, the business posted $2.30 EPS. Deere & Company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 9.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.81%. The ex-dividend date was Monday, December 30th. Deere & Company’s payout ratio is currently 30.58%.
In other Deere & Company news, insider Rajesh Kalathur sold 12,151 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $164.32, for a total transaction of $1,996,652.32. Following the sale, the insider now owns 55,178 shares in the company, valued at approximately $9,066,848.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John C. May II sold 5,075 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $173.38, for a total value of $879,903.50. Following the sale, the chief executive officer now owns 49,157 shares in the company, valued at approximately $8,522,840.66. The disclosure for this sale can be found here. Insiders sold a total of 27,688 shares of company stock valued at $4,700,421 over the last ninety days. 0.70% of the stock is currently owned by company insiders.
Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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