Hanson & Doremus Investment Management Decreases Position in Deere & Company (DE)

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Hanson & Doremus Investment Management trimmed its holdings in shares of Deere & Company (NYSE:DE) by 22.2% in the second quarter, HoldingsChannel.com reports. The firm owned 2,994 shares of the industrial products company’s stock after selling 855 shares during the period. Hanson & Doremus Investment Management’s holdings in Deere & Company were worth $419,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Deere & Company by 5.5% during the first quarter. BlackRock Inc. now owns 18,857,199 shares of the industrial products company’s stock worth $2,928,897,000 after purchasing an additional 978,907 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Deere & Company by 0.6% during the first quarter. Loomis Sayles & Co. L P now owns 6,489,578 shares of the industrial products company’s stock worth $1,007,961,000 after acquiring an additional 39,778 shares during the period. Findlay Park Partners LLP raised its stake in Deere & Company by 86.4% during the second quarter. Findlay Park Partners LLP now owns 1,359,572 shares of the industrial products company’s stock worth $190,068,000 after acquiring an additional 630,000 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Deere & Company by 2.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,344,605 shares of the industrial products company’s stock worth $187,976,000 after acquiring an additional 29,532 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Deere & Company by 29.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,054,390 shares of the industrial products company’s stock worth $147,404,000 after acquiring an additional 237,873 shares during the period. 67.14% of the stock is owned by hedge funds and other institutional investors.

DE has been the topic of several research reports. OTR Global lowered shares of Deere & Company to a “$139.21” rating in a research note on Wednesday, July 18th. TheStreet upgraded shares of Deere & Company from a “c+” rating to an “a-” rating in a research note on Friday, May 18th. Bank of America upgraded shares of Deere & Company from a “neutral” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Thursday, May 3rd. Goldman Sachs Group lowered shares of Deere & Company from a “conviction-buy” rating to a “buy” rating in a research note on Monday, July 16th. Finally, Citigroup dropped their price target on shares of Deere & Company from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, June 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $178.42.

Shares of NYSE:DE opened at $140.53 on Tuesday. The company has a market cap of $45.59 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 2.56 and a beta of 0.85. Deere & Company has a 1-year low of $114.53 and a 1-year high of $175.26. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 2.59.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.75 by ($0.16). The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.18 billion. Deere & Company had a return on equity of 28.51% and a net margin of 5.82%. The company’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.97 earnings per share. sell-side analysts anticipate that Deere & Company will post 9.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Friday, June 29th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.96%. This is a boost from Deere & Company’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 41.32%.

Deere & Company Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

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

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