Hodges Capital Management Inc. Has $531,000 Position in Deere & Company (NYSE:DE)

Hodges Capital Management Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 81.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,272 shares of the industrial products company's stock after selling 5,637 shares during the period. Hodges Capital Management Inc.'s holdings in Deere & Company were worth $531,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. FMR LLC increased its holdings in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after acquiring an additional 988,380 shares during the period. Legal & General Group Plc increased its holdings in shares of Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company's stock worth $842,259,000 after acquiring an additional 60,255 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Deere & Company by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company's stock worth $802,037,000 after acquiring an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Deere & Company by 8.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company's stock worth $832,431,000 after acquiring an additional 158,732 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 1.2 %

Shares of DE traded up $5.27 during midday trading on Monday, hitting $449.27. The stock had a trading volume of 1,209,050 shares, compared to its average volume of 1,443,935. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The business has a 50-day simple moving average of $418.17 and a two-hundred day simple moving average of $390.83. The firm has a market cap of $122.92 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.20 billion. During the same period last year, the company posted $8.26 earnings per share. The business's revenue for the quarter was down 32.8% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is a boost from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Tuesday, December 31st. Deere & Company's dividend payout ratio (DPR) is currently 22.97%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Evercore ISI increased their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an "in-line" rating in a report on Monday, August 19th. Morgan Stanley increased their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Finally, Barclays raised their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $443.28.

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.