Hancock Whitney Corp Sells 222 Shares of Deere & Company (NYSE:DE)

Hancock Whitney Corp lowered its holdings in shares of Deere & Company (NYSE:DE) by 1.7% in the third quarter, Holdings Channel.com reports. The fund owned 12,847 shares of the industrial products company’s stock after selling 222 shares during the quarter. Hancock Whitney Corp’s holdings in Deere & Company were worth $5,361,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DE. Legal & General Group Plc increased its position in shares of Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after acquiring an additional 60,255 shares during the period. Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 279,627 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Deere & Company by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after purchasing an additional 158,732 shares during the period. Ontario Teachers Pension Plan Board raised its position in Deere & Company by 11.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock valued at $559,901,000 after purchasing an additional 139,336 shares in the last quarter. Finally, Markel Group Inc. lifted its holdings in shares of Deere & Company by 2.8% in the 3rd quarter. Markel Group Inc. now owns 869,100 shares of the industrial products company’s stock worth $362,702,000 after buying an additional 23,750 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.3 %

NYSE DE opened at $448.20 on Monday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $448.20. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company has a market capitalization of $122.63 billion, a PE ratio of 17.51, a P/E/G ratio of 1.75 and a beta of 0.93. The company has a fifty day moving average of $406.99 and a 200 day moving average of $386.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the firm posted $8.26 earnings per share. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 21.31 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.31%. Deere & Company’s payout ratio is 22.97%.

Analysts Set New Price Targets

Several analysts recently weighed in on DE shares. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Evercore ISI increased their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Oppenheimer boosted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $431.61.

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.