Hennessy Advisors Inc. Has $3 Million Stock Holdings in Deere & Company $DE

Hennessy Advisors Inc. lowered its position in Deere & Company (NYSE:DE) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,900 shares of the industrial products company’s stock after selling 100 shares during the quarter. Hennessy Advisors Inc.’s holdings in Deere & Company were worth $3,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in DE. Activest Wealth Management lifted its holdings 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 purchasing an additional 55 shares during the period. Hughes Financial Services LLC bought a new position in Deere & Company during the 1st quarter worth $29,000. Cornerstone Planning Group LLC raised its position in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new position in Deere & Company during the 2nd quarter worth about $38,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 2nd quarter valued at about $39,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.2%

Shares of NYSE:DE opened at $462.59 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The business’s 50 day simple moving average is $484.64 and its two-hundred day simple moving average is $489.15. The firm has a market cap of $125.05 billion, a P/E ratio of 24.18, a PEG ratio of 2.98 and a beta of 1.02.

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

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

DE has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Saturday, September 27th. Wolfe Research dropped their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday. DA Davidson decreased their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Robert W. Baird dropped their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $518.18.

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.