Hancock Whitney Corp Cuts Stake in Deere & Company (NYSE:DE)

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Hancock Whitney Corp cut its stake in Deere & Company (NYSE:DE) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 14,249 shares of the industrial products company’s stock after selling 192 shares during the quarter. Hancock Whitney Corp’s holdings in Deere & Company were worth $2,469,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. increased its position in shares of Deere & Company by 69.7% during the third quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 62 shares during the last quarter. Allred Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $30,000. Resources Management Corp CT ADV purchased a new stake in shares of Deere & Company during the third quarter worth about $34,000. Barnett & Company Inc. increased its position in shares of Deere & Company by 2,785.7% during the fourth quarter. Barnett & Company Inc. now owns 202 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 195 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Deere & Company by 555.6% during the fourth quarter. Allworth Financial LP now owns 236 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 200 shares during the last quarter. 67.30% of the stock is currently owned by institutional investors.

Shares of DE stock opened at $168.07 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.04 and a debt-to-equity ratio of 2.65. The business has a 50 day moving average of $170.90 and a two-hundred day moving average of $167.18. Deere & Company has a 52 week low of $132.68 and a 52 week high of $180.48. The company has a market cap of $52.91 billion, a P/E ratio of 16.57, a PEG ratio of 4.04 and a beta of 1.14.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 27th. The industrial products company reported $2.14 EPS for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.01. Deere & Company had a return on equity of 27.11% and a net margin of 8.29%. The company had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same period in the previous year, the firm posted $2.30 earnings per share. Deere & Company’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts expect that Deere & Company will post 9.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a $0.76 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.04 dividend on an annualized basis and a yield of 1.81%. Deere & Company’s payout ratio is currently 30.58%.

In other Deere & Company news, insider Pentz Markwart Von sold 2,350 shares of Deere & Company stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $175.10, for a total value of $411,485.00. Following the completion of the transaction, the insider now directly owns 62,762 shares in the company, valued at $10,989,626.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rajesh Kalathur sold 12,151 shares of Deere & Company stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $164.32, for a total value of $1,996,652.32. Following the completion of the transaction, the insider now owns 55,178 shares of the company’s stock, valued at $9,066,848.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,688 shares of company stock valued at $4,700,421. 0.70% of the stock is currently owned by insiders.

DE has been the subject of a number of research reports. Morgan Stanley lifted their price target on Deere & Company from $180.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. DZ Bank downgraded Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 price target for the company. in a research note on Friday, November 29th. Deutsche Bank reiterated a “hold” rating and issued a $169.00 price target (up from $155.00) on shares of Deere & Company in a research note on Wednesday, November 20th. Argus reiterated a “positive” rating and issued a $185.00 price target on shares of Deere & Company in a research note on Tuesday, December 3rd. Finally, Bank of America downgraded Deere & Company from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $200.00 to $150.00 in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $172.28.

About Deere & Company

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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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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