Hanson & Doremus Investment Management Buys 216 Shares of Deere & Company (NYSE:DE)

Hanson & Doremus Investment Management boosted its stake in shares of Deere & Company (NYSE:DE) by 8.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,659 shares of the industrial products company’s stock after acquiring an additional 216 shares during the period. Hanson & Doremus Investment Management’s holdings in Deere & Company were worth $1,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. FMR LLC grew its stake in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Deere & Company by 53,338.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC raised its position in shares of Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC lifted its holdings in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.3 %

Shares of DE opened at $478.50 on Thursday. The stock’s 50-day moving average price is $441.75 and its two-hundred day moving average price is $408.11. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The company has a market capitalization of $130.32 billion, a PE ratio of 18.69, a PEG ratio of 2.84 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned $8.26 earnings per share. On average, analysts anticipate that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. UBS Group raised their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer boosted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Barclays raised their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $444.50.

Deere & Company Company Profile

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.