Fort Washington Investment Advisors Inc. OH Has $124.33 Million Stock Position in Deere & Company $DE

Fort Washington Investment Advisors Inc. OH lifted its position in shares of Deere & Company (NYSE:DE) by 220.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 271,903 shares of the industrial products company’s stock after acquiring an additional 187,040 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Deere & Company were worth $124,330,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares during the period. Evergreen Capital Management LLC boosted its stake in Deere & Company by 5.5% in the first quarter. Evergreen Capital Management LLC now owns 1,470 shares of the industrial products company’s stock valued at $692,000 after acquiring an additional 76 shares during the last quarter. DRW Securities LLC boosted its stake in Deere & Company by 3.8% in the first quarter. DRW Securities LLC now owns 1,145 shares of the industrial products company’s stock valued at $537,000 after acquiring an additional 42 shares during the last quarter. Caption Management LLC acquired a new stake in Deere & Company during the 1st quarter worth $751,000. Finally, Retirement Planning Co of New England Inc. grew its holdings in Deere & Company by 26.8% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 1,061 shares of the industrial products company’s stock worth $498,000 after acquiring an additional 224 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of a number of analyst reports. Wolfe Research cut their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Evercore ISI reiterated a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Truist Financial raised their target price on Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a report on Friday, November 28th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Deere & Company in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $522.70.

Insiders Place Their Bets

In other news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the transaction, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $469.88 on Tuesday. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The firm has a market cap of $127.08 billion, a PE ratio of 25.39, a P/E/G ratio of 1.80 and a beta of 1.00. The business’s 50-day moving average price is $473.26 and its two-hundred day moving average price is $484.34.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period in the prior year, the business earned $4.55 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.