Hancock Whitney Corp Sells 222 Shares of Deere & Company (NYSE:DE)

Hancock Whitney Corp lowered its stake in Deere & Company (NYSE:DE) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,847 shares of the industrial products company’s stock after selling 222 shares during the quarter. Hancock Whitney Corp’s holdings in Deere & Company were worth $5,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Fairscale Capital LLC purchased a new stake in Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter worth $32,000. Olistico Wealth LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at $37,000. Finally, Centennial Bank AR lifted its stake in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $448.20 on Monday. The firm has a market capitalization of $122.63 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.75 and a beta of 0.93. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The business has a 50 day simple moving average of $406.99 and a 200-day simple moving average of $386.22. Deere & Company has a 1 year low of $340.20 and a 1 year high of $448.20.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same period last year, the company earned $8.26 earnings per share. Equities analysts forecast that Deere & Company will post 21.31 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.31%. Deere & Company’s dividend payout ratio is presently 22.97%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DE shares. Bank of America increased their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley decreased their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Truist Financial upped their price target on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets began coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Finally, Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price 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.