Harbour Investments Inc. Sells 596 Shares of Deere & Company (NYSE:DE)

Harbour Investments Inc. reduced its stake in shares of Deere & Company (NYSE:DE) by 9.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,557 shares of the industrial products company’s stock after selling 596 shares during the period. Harbour Investments Inc.’s holdings in Deere & Company were worth $2,319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Vanguard Group Inc. lifted its stake in Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Legal & General Group Plc lifted its position in 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 buying an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after buying an additional 279,627 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Deere & Company by 8.4% during the first 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 acquiring an additional 114,116 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $389.45 on Thursday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The stock has a market capitalization of $106.55 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.50 and a beta of 0.93. The company’s 50-day moving average is $403.52 and its 200 day moving average is $385.61. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm posted $10.20 EPS. The business’s revenue was down 20.3% on a year-over-year basis. On average, sell-side analysts expect that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.51%. Deere & Company’s dividend payout ratio is presently 20.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Citigroup boosted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Oppenheimer decreased their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Company Profile

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.