Hartford Funds Management Co LLC Has $577,000 Stake in Deere & Company (NYSE:DE)

Hartford Funds Management Co LLC raised its position in shares of Deere & Company (NYSE:DE) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,382 shares of the industrial products company’s stock after buying an additional 75 shares during the period. Hartford Funds Management Co LLC’s holdings in Deere & Company were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DE. Pathway Financial Advisers LLC increased its holdings in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after buying an additional 770,451 shares in the last quarter. Swedbank AB bought a new stake in shares of Deere & Company during the first quarter valued at approximately $191,628,000. Mawer Investment Management Ltd. bought a new stake in shares of Deere & Company during the second quarter valued at approximately $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Deere & Company during the third quarter valued at approximately $136,936,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 2.1 %

Shares of NYSE DE opened at $446.65 on Friday. The company’s fifty day moving average is $406.99 and its 200-day moving average is $386.36. The stock has a market cap of $122.20 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $447.50. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period last year, the firm posted $8.26 earnings per share. Equities research analysts predict that Deere & Company will post 21.41 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. Deere & Company’s dividend payout ratio is 22.97%.

Analysts Set New Price Targets

DE has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets initiated coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $431.61.

About Deere & Company

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.