Federated Hermes Inc. Has $5.46 Million Holdings in Deere & Company (NYSE:DE)

Key Points

• Federated Hermes Inc. reduced its stake in Deere & Company by 10.7%, now holding 11,638 shares valued at approximately $5.46 million.
• The stock has been rated variedly by analysts, with 12 holding, 8 buying, and one issuing a strong buy rating, reflecting a consensus rating of "Hold" with a target price of $515.50.
• Deere & Company recently declared a quarterly dividend of $1.62, amounting to an annual yield of 1.3%, with a current dividend payout ratio of 31.35%.

Federated Hermes Inc. reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,638 shares of the industrial products company's stock after selling 1,393 shares during the period. Federated Hermes Inc.'s holdings in Deere & Company were worth $5,462,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DE. Price T Rowe Associates Inc. MD boosted its holdings in shares of Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Capital World Investors grew its position in Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after acquiring an additional 157,224 shares during the last quarter. FMR LLC raised its stake in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Deere & Company by 12.8% in the 4th quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock worth $1,235,394,000 after acquiring an additional 330,915 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Deere & Company by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,587,065 shares of the industrial products company's stock valued at $1,096,179,000 after purchasing an additional 184,203 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Bank of America lifted their price objective on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Citigroup lowered their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $515.50.

Deere & Company Stock Up 0.3%

DE stock traded up $1.28 during midday trading on Wednesday, reaching $509.86. 966,705 shares of the company were exchanged, compared to its average volume of 1,338,287. The stock's 50-day simple moving average is $512.25 and its 200 day simple moving average is $488.25. The company has a market cap of $138.09 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 3.24 and a beta of 1.06. Deere & Company has a 1-year low of $343.38 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business's quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the company posted $8.53 EPS. On average, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

About Deere & Company

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.