Hilltop Holdings Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE) by 27.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,306 shares of the industrial products company’s stock after selling 495 shares during the quarter. Hilltop Holdings Inc.’s holdings in Deere & Company were worth $226,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Deere & Company in the third quarter valued at about $7,927,000. Voya Financial Advisors Inc. increased its position in shares of Deere & Company by 11.4% in the third quarter. Voya Financial Advisors Inc. now owns 3,119 shares of the industrial products company’s stock worth $519,000 after purchasing an additional 320 shares during the period. Redpoint Investment Management Pty Ltd raised its stake in Deere & Company by 2.0% in the third quarter. Redpoint Investment Management Pty Ltd now owns 15,717 shares of the industrial products company’s stock valued at $2,651,000 after purchasing an additional 308 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Deere & Company in the third quarter valued at about $1,140,000. Finally, J.P. Marvel Investment Advisors LLC acquired a new position in Deere & Company in the third quarter valued at about $4,987,000. Institutional investors and hedge funds own 67.94% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Argus reiterated a “buy” rating and set a $166.65 price objective (down from $185.00) on shares of Deere & Company in a research note on Wednesday, February 26th. UBS Group dropped their target price on shares of Deere & Company from $180.00 to $169.00 and set a “neutral” rating for the company in a research report on Friday, November 29th. Credit Suisse Group raised their target price on Deere & Company from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, February 24th. Morgan Stanley decreased their price target on Deere & Company from $205.00 to $171.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Deere & Company in a report on Monday, February 24th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $173.03.
Deere & Company stock opened at $128.49 on Thursday. The business has a 50 day moving average of $154.17 and a 200-day moving average of $166.41. The company has a market capitalization of $39.52 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.73 and a beta of 1.05. Deere & Company has a 1 year low of $106.14 and a 1 year high of $181.99. The company has a debt-to-equity ratio of 2.55, a current ratio of 2.12 and a quick ratio of 1.84.
Deere & Company (NYSE:DE) last posted its earnings results on Friday, February 21st. The industrial products company reported $1.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.35. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. The firm had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period in the previous year, the firm posted $1.54 EPS. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 9.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.37%. Deere & Company’s dividend payout ratio (DPR) is presently 30.58%.
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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