Federated Hermes Inc. Has $2.39 Million Stock Holdings in Deere & Company (NYSE:DE)

Posted by on Mar 11th, 2023

Federated Hermes Inc. lessened its stake in shares of Deere & Company (NYSE:DE – Get Rating) by 8.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,168 shares of the industrial products company’s stock after selling 686 shares during the quarter. Federated Hermes Inc.’s holdings in Deere & Company were worth $2,393,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DE. TCI Wealth Advisors Inc. grew its holdings in Deere & Company by 1.5% in the third quarter. TCI Wealth Advisors Inc. now owns 1,694 shares of the industrial products company’s stock worth $566,000 after purchasing an additional 25 shares during the period. FSM Wealth Advisors LLC lifted its stake in shares of Deere & Company by 2.3% in the third quarter. FSM Wealth Advisors LLC now owns 1,290 shares of the industrial products company’s stock worth $431,000 after buying an additional 29 shares in the last quarter. Abbrea Capital LLC lifted its stake in shares of Deere & Company by 3.1% in the third quarter. Abbrea Capital LLC now owns 998 shares of the industrial products company’s stock worth $334,000 after buying an additional 30 shares in the last quarter. JNBA Financial Advisors lifted its stake in shares of Deere & Company by 1.3% in the third quarter. JNBA Financial Advisors now owns 2,367 shares of the industrial products company’s stock worth $790,000 after buying an additional 30 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Deere & Company by 2.6% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,242 shares of the industrial products company’s stock worth $414,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 75.72% of the company’s stock.

Deere & Company Stock Down 6.0 %

Shares of DE stock opened at $395.93 on Friday. The company has a market capitalization of $117.32 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.13 and a beta of 1.05. Deere & Company has a one year low of $283.81 and a one year high of $448.40. The company’s fifty day moving average price is $420.58 and its 200-day moving average price is $402.45. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.07 and a quick ratio of 1.76.

Deere & Company (NYSE:DE – Get Rating) last announced its quarterly earnings data on Friday, February 17th. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.53 by $1.02. Deere & Company had a net margin of 14.71% and a return on equity of 41.17%. The firm had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.14 billion. During the same period last year, the firm earned $2.92 EPS. The company’s revenue was up 33.7% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 30.4 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 8th. Investors of record on Friday, March 31st will be paid a dividend of $1.25 per share. The ex-dividend date is Thursday, March 30th. This is a boost from Deere & Company’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.26%. Deere & Company’s payout ratio is currently 17.80%.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. Evercore ISI upped their target price on shares of Deere & Company from $463.00 to $513.00 in a research note on Monday, November 28th. Oppenheimer upped their target price on shares of Deere & Company from $415.00 to $492.00 in a research note on Wednesday, November 23rd. BMO Capital Markets upped their target price on shares of Deere & Company from $375.00 to $450.00 and gave the stock a “market perform” rating in a research note on Monday, November 28th. Bank of America increased their price objective on shares of Deere & Company from $478.00 to $484.00 in a research report on Monday, February 20th. Finally, Morgan Stanley increased their price objective on shares of Deere & Company from $522.00 to $537.00 and gave the company an “overweight” rating in a research report on Tuesday, February 21st. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $460.81.

Deere & Company Profile

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Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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

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