Harbor Investment Advisory LLC lifted its position in shares of Deere & Company (NYSE:DE – Free Report) by 27.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,730 shares of the industrial products company’s stock after buying an additional 372 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Deere & Company were worth $710,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in DE. True Wealth Design LLC raised its stake in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC acquired a new stake in Deere & Company during the fourth quarter worth about $28,000. Rakuten Securities Inc. acquired a new stake in Deere & Company during the fourth quarter worth about $28,000. Naples Money Management LLC acquired a new stake in Deere & Company during the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Deere & Company during the fourth quarter worth about $29,000. Institutional investors own 68.58% of the company’s stock.
Deere & Company Stock Up 0.8 %
DE opened at $378.17 on Tuesday. The business has a 50 day moving average price of $387.23 and a two-hundred day moving average price of $387.04. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The company has a market cap of $104.21 billion, a PE ratio of 11.38, a P/E/G ratio of 1.51 and a beta of 0.98. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00.
Deere & Company Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.
Wall Street Analyst Weigh In
Several analysts have commented on DE shares. DA Davidson dropped their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. TD Cowen raised their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Oppenheimer reiterated an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. Finally, Morgan Stanley lifted their price objective on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $433.36.
Read Our Latest Report on Deere & Company
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.
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