Deere & Company (NYSE:DE) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of Deere & Company (NYSE:DE) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,737 shares of the industrial products company’s stock after selling 1,473 shares during the period. Federated Hermes Inc.’s holdings in Deere & Company were worth $7,092,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Briaud Financial Planning Inc acquired a new position in Deere & Company in the third quarter worth $25,000. Rakuten Securities Inc. bought a new stake in shares of Deere & Company during the 4th quarter valued at about $28,000. ZRC Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $28,000. Milestone Investment Advisors LLC acquired a new stake in Deere & Company during the third quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC bought a new position in Deere & Company in the fourth quarter worth about $41,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $394.62 on Thursday. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The firm’s 50 day moving average is $386.62 and its 200-day moving average is $383.47. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The stock has a market capitalization of $109.85 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.50 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the firm posted $6.55 earnings per share. Equities research analysts anticipate that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Analysts Set New Price Targets

DE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Citigroup lowered their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Melius Research reiterated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Wells Fargo & Company reduced their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Finally, Morgan Stanley assumed coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $433.28.

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.