Bahl & Gaynor Inc. Has $912,000 Holdings in Deere & Company (NYSE:DE)

Bahl & Gaynor Inc. decreased its holdings in shares of Deere & Company (NYSE:DE) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,281 shares of the industrial products company’s stock after selling 90 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Deere & Company were worth $912,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DE. Briaud Financial Planning Inc bought a new stake in shares of Deere & Company in the 3rd quarter valued at $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new position in shares of Deere & Company in the fourth quarter valued at $28,000. Naples Money Management LLC acquired a new position in Deere & Company during the fourth quarter worth $29,000. Finally, Bfsg LLC acquired a new stake in Deere & Company in the fourth quarter valued at $30,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.2 %

Shares of DE stock opened at $393.33 on Friday. The stock has a market cap of $109.49 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The stock has a 50 day simple moving average of $387.86 and a 200 day simple moving average of $383.56.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $6.55 EPS. On average, research analysts predict that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Analyst Ratings Changes

DE has been the subject of several recent analyst reports. Citigroup cut their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Morgan Stanley initiated coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Evercore ISI upped their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $433.28.

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.