Harbor Investment Advisory LLC Sells 248 Shares of Deere & Company (NYSE:DE)

Harbor Investment Advisory LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 13.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,570 shares of the industrial products company’s stock after selling 248 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Deere & Company were worth $655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position 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 period. Janus Henderson Group PLC boosted its position in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after purchasing an additional 19,200 shares during the period. Legal & General Group Plc boosted its position in Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares during the period. Dimensional Fund Advisors LP boosted its position in Deere & Company by 15.0% during 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 purchasing an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after purchasing an additional 150,713 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI raised their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Bank of America raised their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $410.50.

Deere & Company Trading Down 0.2 %

Shares of DE opened at $407.99 on Friday. The company has a market capitalization of $112.43 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.36 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The firm’s 50 day simple moving average is $383.08 and its 200 day simple moving average is $385.15. 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 results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for 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%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the firm posted $10.20 earnings per share. Sell-side analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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.