Hamilton Point Investment Advisors LLC Trims Stake in Deere & Company (NYSE:DE)

Hamilton Point Investment Advisors LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 0.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,853 shares of the industrial products company’s stock after selling 196 shares during the quarter. Deere & Company accounts for about 1.8% of Hamilton Point Investment Advisors LLC’s portfolio, making the stock its 13th largest position. Hamilton Point Investment Advisors LLC’s holdings in Deere & Company were worth $10,408,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fairscale Capital LLC bought a new stake in Deere & Company during the 2nd quarter valued at about $26,000. Pineridge Advisors LLC increased its position in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the third quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR grew its stake in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $446.65 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $447.50. The company has a market cap of $122.20 billion, a PE ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09. The business has a 50-day simple moving average of $406.99 and a two-hundred day simple moving average of $386.49.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period last year, the business earned $8.26 EPS. As a group, equities analysts expect that Deere & Company will post 21.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Truist Financial lifted their price objective on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Barclays boosted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $431.61.

Deere & Company 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.