Hamilton Point Investment Advisors LLC Lowers Holdings in Deere & Company (NYSE:DE)

Hamilton Point Investment Advisors LLC decreased its position in Deere & Company (NYSE:DE) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,853 shares of the industrial products company’s stock after selling 196 shares during the period. Deere & Company makes up approximately 1.8% of Hamilton Point Investment Advisors LLC’s holdings, making the stock its 13th biggest position. Hamilton Point Investment Advisors LLC’s holdings in Deere & Company were worth $10,408,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DE. Janus Henderson Group PLC lifted its holdings in shares of Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after purchasing an additional 19,200 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Deere & Company by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after purchasing an additional 114,116 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its holdings in Deere & Company by 11.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock worth $559,901,000 after purchasing an additional 139,336 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DE shares. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday. Citigroup increased their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley decreased their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Finally, Truist Financial boosted their price objective on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $431.61.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $446.65 on Friday. The firm has a fifty day simple moving average of $406.99 and a two-hundred day simple moving average of $386.49. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $122.20 billion, a P/E ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the business posted $8.26 earnings per share. The firm’s revenue was down 32.8% on a year-over-year basis. On average, analysts expect that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.32%. Deere & Company’s payout ratio is presently 22.97%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.