Hsbc Holdings PLC Has $241.22 Million Position in Deere & Company $DE

Hsbc Holdings PLC boosted its holdings in Deere & Company (NYSE:DE – Free Report) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 517,406 shares of the industrial products company’s stock after purchasing an additional 37,319 shares during the period. Hsbc Holdings PLC’s holdings in Deere & Company were worth $241,224,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Strategic Advocates LLC acquired a new stake in Deere & Company during the third quarter valued at approximately $25,000. Key Capital Management INC bought a new stake in shares of Deere & Company in the 4th quarter valued at approximately $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Get Deere & Company alerts:

Deere & Company Trading Up 0.2%

DE stock opened at $590.37 on Friday. The business has a fifty day moving average price of $573.71 and a 200 day moving average price of $552.66. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The stock has a market capitalization of $159.36 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DE – Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company 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 business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.64 earnings per share. Analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors 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 yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DE. Sanford C. Bernstein upped their price target on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Truist Financial cut their price objective on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Barclays boosted their target price on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. BMO Capital Markets upped their target price on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Finally, Bank of America dropped their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

View Our Latest Research Report on Deere & Company

Deere & Company Company Profile

(Free Report)

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.

Featured Stories

• Five stocks we like better than Deere & Company
• Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
• Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
• Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
• Why Kroger’s Pullback Could Be a Gift for Patient Investors

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE – Free Report).

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.