Hennion & Walsh Asset Management Inc. Has $1.19 Million Stock Holdings in Deere & Company (NYSE:DE)

Hennion & Walsh Asset Management Inc. cut its stake in Deere & Company (NYSE:DE - Free Report) by 39.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,819 shares of the industrial products company's stock after selling 1,865 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Deere & Company were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Northside Capital Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $351,000. Heritage Family Offices LLP lifted its stake in shares of Deere & Company by 4.1% in the 4th quarter. Heritage Family Offices LLP now owns 1,783 shares of the industrial products company's stock valued at $755,000 after purchasing an additional 71 shares during the last quarter. ERn Financial LLC boosted its holdings in Deere & Company by 0.9% in the fourth quarter. ERn Financial LLC now owns 3,832 shares of the industrial products company's stock worth $1,623,000 after purchasing an additional 33 shares in the last quarter. Sendero Wealth Management LLC increased its position in Deere & Company by 4.5% during the fourth quarter. Sendero Wealth Management LLC now owns 20,543 shares of the industrial products company's stock worth $8,704,000 after buying an additional 886 shares during the last quarter. Finally, Advisors Management Group Inc. ADV raised its holdings in Deere & Company by 11.5% during the fourth quarter. Advisors Management Group Inc. ADV now owns 3,574 shares of the industrial products company's stock valued at $1,514,000 after buying an additional 370 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of several analyst reports. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. UBS Group upped their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Jefferies Financial Group cut Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on Deere & Company from $450.00 to $470.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Oppenheimer lifted their price target on Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $442.83.

Deere & Company Trading Up 4.0 %

NYSE:DE traded up $17.46 during mid-day trading on Friday, hitting $456.57. The company had a trading volume of 2,315,484 shares, compared to its average volume of 906,286. The firm has a market cap of $124.35 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The business's fifty day moving average is $431.48 and its two-hundred day moving average is $402.25. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts' consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm's quarterly revenue was down 32.8% on a year-over-year basis. During the same period last year, the business posted $8.26 earnings per share. As a group, research analysts expect that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. Deere & Company's payout ratio is currently 25.31%.

Deere & Company Company Profile

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.