Hyman Charles D Raises Holdings in Deere & Company (NYSE:DE)

Hyman Charles D increased its holdings in Deere & Company (NYSE:DE) by 0.5% in the 4th quarter, HoldingsChannel reports. The fund owned 93,173 shares of the industrial products company’s stock after purchasing an additional 453 shares during the quarter. Deere & Company makes up approximately 2.2% of Hyman Charles D’s holdings, making the stock its 12th biggest holding. Hyman Charles D’s holdings in Deere & Company were worth $37,257,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC boosted its position in shares of Deere & Company by 62.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock worth $551,000 after buying an additional 552 shares during the period. Barlow Wealth Partners Inc. purchased a new position in Deere & Company in the fourth quarter valued at $14,386,000. Patrick M Sweeney & Associates Inc. purchased a new position in Deere & Company in the fourth quarter valued at $753,000. Centric Wealth Management boosted its holdings in Deere & Company by 9.9% in the fourth quarter. Centric Wealth Management now owns 7,687 shares of the industrial products company’s stock valued at $2,967,000 after purchasing an additional 691 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Deere & Company by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after purchasing an additional 31,074 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore ISI lifted their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Citigroup decreased their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Stifel Nicolaus decreased their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Wells Fargo & Company decreased their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Stock Performance

Shares of DE traded down $0.25 during midday trading on Wednesday, reaching $405.32. 640,327 shares of the stock were exchanged, compared to its average volume of 1,451,911. The company has a market capitalization of $112.82 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.51 and a beta of 1.04. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The business’s 50-day moving average price is $393.13 and its 200 day moving average price is $384.23. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.55 EPS. On average, sell-side analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

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.