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

by · The Cerbat Gem

Hartford Funds Management Co LLC increased its stake in shares of Deere & Company (NYSE:DE – Free Report) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,382 shares of the industrial products company’s stock after acquiring 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 SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1832 Asset Management L.P. increased its stake in Deere & Company by 67.3% in the 1st quarter. 1832 Asset Management L.P. now owns 3,313 shares of the industrial products company’s stock valued at $1,361,000 after buying an additional 1,333 shares during the last quarter. BOKF NA increased its stake in Deere & Company by 3.2% in the 1st quarter. BOKF NA now owns 10,316 shares of the industrial products company’s stock valued at $4,169,000 after buying an additional 320 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after buying an additional 114,116 shares during the last quarter. Mount Yale Investment Advisors LLC increased its stake in Deere & Company by 43.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,965 shares of the industrial products company’s stock valued at $807,000 after buying an additional 592 shares during the last quarter. Finally, Transcendent Capital Group LLC increased its stake in Deere & Company by 673.1% in the 1st quarter. Transcendent Capital Group LLC now owns 201 shares of the industrial products company’s stock valued at $83,000 after buying an additional 175 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $446.65 on Friday. The company has a market capitalization of $122.20 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09. The company has a 50-day simple moving average of $406.99 and a 200 day simple moving average of $386.36. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50.

Deere & Company (NYSE:DE – Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.26 EPS. On average, sell-side analysts predict that Deere & Company will post 21.41 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 22.97%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DE shares. UBS Group lifted 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. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Oppenheimer lifted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus target price of $431.61.

Read Our Latest Research Report on DE

About Deere & Company

(Free Report)

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.

See Also

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