Hsbc Holdings PLC Buys 37,319 Shares of Deere & Company $DE

Hsbc Holdings PLC raised its stake in shares of Deere & Company (NYSE:DE) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 517,406 shares of the industrial products company’s stock after purchasing an additional 37,319 shares during the period. Hsbc Holdings PLC owned 0.19% of Deere & Company worth $241,224,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Strategic Advocates LLC bought a new position in Deere & Company in the 3rd quarter worth $25,000. Key Capital Management INC bought a new stake in Deere & Company during the fourth quarter valued at about $27,000. Timmons Wealth Management LLC bought a new stake in Deere & Company during the fourth quarter valued at about $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the third quarter worth about $32,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several research analyst reports. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Bank of America dropped their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. UBS Group upped their price target on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Barclays increased their price objective on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Finally, Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Stock Up 0.2%

DE stock opened at $590.37 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a market cap of $159.36 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92. The business’s 50-day simple moving average is $573.71 and its 200 day simple moving average is $552.66. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the prior year, the firm posted $6.64 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

About Deere & Company

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.