Deere & Company $DE Stock Sold by Andrew Hill Investment Advisors Inc.

Key Points

• Andrew Hill Investment Advisors cut its Deere stake by 49.1% in the third quarter, selling 2,427 shares and retaining 2,511 shares worth approximately $1.69 million.
• Deere reported quarterly EPS of $5.10, beating estimates by $0.41, while revenue reached $12.61 billion and increased 6.2% year over year. The company also declared a quarterly dividend of $1.62 per share, equivalent to a 1.0% yield.
• Analysts maintain a “Moderate Buy” consensus, with 17 Buy ratings and eight Holds and an average price target of $688.10; institutional investors collectively own 68.58% of the stock.

Andrew Hill Investment Advisors Inc. decreased its position in shares of Deere & Company (NYSE:DE - Free Report) by 49.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,511 shares of the industrial products company's stock after selling 2,427 shares during the quarter. Deere & Company accounts for approximately 1.4% of Andrew Hill Investment Advisors Inc.'s investment portfolio, making the stock its 25th largest holding. Andrew Hill Investment Advisors Inc.'s holdings in Deere & Company were worth $1,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Deere & Company in the 2nd quarter worth about $11,763,504,000. Wellington Management Group LLP raised its stake in shares of Deere & Company by 84.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company's stock worth $1,959,209,000 after buying an additional 1,412,694 shares during the period. Bank of America Corp DE raised its stake in shares of Deere & Company by 0.3% during the 1st quarter. Bank of America Corp DE now owns 2,782,402 shares of the industrial products company's stock worth $1,567,327,000 after buying an additional 7,918 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Deere & Company during the 2nd quarter valued at approximately $1,259,279,000. Finally, Legal & General Group Plc purchased a new position in shares of Deere & Company during the 2nd quarter valued at approximately $957,456,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of DE opened at $645.61 on Friday. Deere & Company has a 1-year low of $454.50 and a 1-year high of $721.22. The stock has a market cap of $174.07 billion, a PE ratio of 35.76, a price-to-earnings-growth ratio of 2.35 and a beta of 0.86. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The firm has a fifty day moving average price of $660.40 and a 200 day moving average price of $614.23.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.75 earnings per share. As a group, sell-side analysts anticipate that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company's dividend payout ratio is presently 36.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on DE. DA Davidson boosted their price target on shares of Deere & Company from $685.00 to $760.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Bank of America increased their price objective on shares of Deere & Company from $667.00 to $715.00 in a research report on Thursday, September 24th. Nomura raised Deere & Company to a "buy" rating in a research report on Monday, August 31st. Seaport Research Partners set a $570.00 price target on Deere & Company in a research note on Friday, August 14th. Finally, Oppenheimer raised their price target on Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a research report on Thursday, August 20th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $688.10.

About Deere & Company

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.

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