Hazlett Burt & Watson Inc. Lowers Stake in Deere & Company (NYSE:DE)

Hazlett Burt & Watson Inc. lowered its holdings in shares of Deere & Company (NYSE:DE) by 15.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,032 shares of the industrial products company’s stock after selling 186 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Deere & Company were worth $432,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fairscale Capital LLC bought a new position in shares of Deere & Company in the second quarter worth approximately $26,000. Pineridge Advisors LLC grew its holdings in shares of Deere & Company by 725.0% in 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 3rd quarter valued at about $32,000. Olistico Wealth LLC purchased a new stake in Deere & Company during the second quarter valued at approximately $37,000. Finally, Centennial Bank AR increased its stake in shares of Deere & Company by 420.0% in the 2nd 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. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of a number of analyst reports. Oppenheimer lowered their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Morgan Stanley decreased their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Finally, Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Price Performance

NYSE:DE traded up $0.58 during trading hours on Monday, reaching $401.00. The stock had a trading volume of 253,143 shares, compared to its average volume of 1,435,637. The stock has a market capitalization of $109.71 billion, a PE ratio of 13.66, a PEG ratio of 1.35 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a 50 day moving average price of $400.85 and a two-hundred day moving average price of $385.41. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the business posted $10.20 earnings per share. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is 20.06%.

Deere & 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.