Hancock Whitney Corp Has $6.72 Million Position in Deere & Company $DE

Key Points

• Hancock Whitney Corp increased its position in Deere & Company by 8.6%, with holdings valued at $6.72 million after purchasing additional shares in the first quarter.
• Deere & Company reported earnings per share of $4.75 for the last quarter, surpassing analyst estimates, but experienced a 9% decline in year-over-year revenue.
• The company declared a quarterly dividend of $1.62 per share, with an annualized yield of 1.4%, to be paid on November 10th.

Hancock Whitney Corp raised its holdings in Deere & Company (NYSE:DE - Free Report) by 8.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,320 shares of the industrial products company's stock after buying an additional 1,140 shares during the period. Hancock Whitney Corp's holdings in Deere & Company were worth $6,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 1,278 shares during the last quarter. Caxton Associates LP bought a new stake in Deere & Company during the fourth quarter worth $261,000. Colonial Trust Co SC boosted its position in Deere & Company by 5.1% in the fourth quarter. Colonial Trust Co SC now owns 3,187 shares of the industrial products company's stock worth $1,350,000 after purchasing an additional 155 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in Deere & Company by 10.8% during the fourth quarter. EP Wealth Advisors LLC now owns 5,480 shares of the industrial products company's stock worth $2,322,000 after buying an additional 535 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its stake in Deere & Company by 11.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 3,103 shares of the industrial products company's stock valued at $1,315,000 after acquiring an additional 321 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Deere & Company stock opened at $469.04 on Thursday. The stock has a market cap of $126.80 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 3.07 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business has a 50-day simple moving average of $502.81 and a 200 day simple moving average of $491.11. Deere & Company has a 52 week low of $378.66 and a 52 week high of $533.78.

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

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. DA Davidson lowered their price objective on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Barclays boosted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Finally, Raymond James Financial raised their price target on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $520.87.

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.

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