Oak Harbor Wealth Partners LLC Sells 50 Shares of Deere & Company (NYSE:DE)

Oak Harbor Wealth Partners LLC decreased its position in Deere & Company (NYSE:DE) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,543 shares of the industrial products company’s stock after selling 50 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Deere & Company were worth $2,313,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Pineridge Advisors LLC raised its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Fairscale Capital LLC acquired a new position in Deere & Company in the second quarter valued at $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the third quarter valued at $32,000. Olistico Wealth LLC acquired a new position in shares of Deere & Company during the second quarter valued at about $37,000. Finally, Centennial Bank AR increased its position in shares of 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 acquiring an additional 84 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent analyst reports. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Oppenheimer reduced their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets began coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Truist Financial raised their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Performance

NYSE:DE opened at $394.68 on Friday. The firm has a 50 day simple moving average of $403.47 and a 200-day simple moving average of $385.64. 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 cap of $107.98 billion, a PE ratio of 13.47, a P/E/G ratio of 1.48 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Deere & 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.