Deere & Company (NYSE:DE) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE) by 9.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,557 shares of the industrial products company’s stock after selling 596 shares during the quarter. Harbour Investments Inc.’s holdings in Deere & Company were worth $2,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Fairscale Capital LLC purchased a new position in Deere & Company during the second quarter valued at approximately $26,000. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 3rd quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $37,000. Finally, Centennial Bank AR boosted its holdings in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock 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 company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market capitalization of $106.55 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The business has a 50 day simple moving average of $403.52 and a 200-day simple moving average of $385.61.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) 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 company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the business earned $10.20 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on DE shares. Deutsche Bank Aktiengesellschaft cut 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. Evercore ISI upped their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Bank of America raised their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.