Fort Washington Investment Advisors Inc. OH Buys 17,234 Shares of Deere & Company $DE

Key Points

• Fort Washington Investment Advisors Inc. OH increased its stake in Deere & Company by 25.5%, acquiring an additional 17,234 shares, bringing their total holdings to 84,863 shares worth approximately $43.15 million.
• Deere & Company recently reported an EPS of $4.75 for the last quarter, exceeding estimates, but its revenue declined by 9% year-over-year.
• The company announced a dividend of $1.62 per share to be paid on November 10th, resulting in an annualized dividend of $6.48 with a yield of 1.4%.

Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 25.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,863 shares of the industrial products company's stock after acquiring an additional 17,234 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Deere & Company were worth $43,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in DE. Activest Wealth Management raised its position in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the first quarter worth about $29,000. Cornerstone Planning Group LLC raised its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company during the second quarter worth about $38,000. Finally, Livelsberger Financial Advisory bought a new stake in Deere & Company in the second quarter worth approximately $39,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DE shares. Robert W. Baird lowered their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a report on Friday. Truist Financial lowered their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $518.06.

Deere & Company Trading Down 0.6%

NYSE DE opened at $463.93 on Friday. The company has a market cap of $125.41 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 2.99 and a beta of 1.00. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The business has a 50 day moving average price of $489.67 and a 200-day moving average price of $489.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.29 earnings per share. As a group, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's payout ratio is presently 33.87%.

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.

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