K.J. Harrison & Partners Inc Makes New Investment in Deere & Company (NYSE:DE)

K.J. Harrison & Partners Inc bought a new position in Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,020 shares of the industrial products company’s stock, valued at approximately $408,000.

A number of other large investors have also bought and sold shares of the company. Briaud Financial Planning Inc purchased a new position in shares of Deere & Company in the third quarter valued at $25,000. ZRC Wealth Management LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $28,000. Rakuten Securities Inc. purchased a new position in shares of Deere & Company in the fourth quarter valued at $28,000. Naples Money Management LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $29,000. Finally, Bfsg LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $30,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.2 %

Shares of DE stock traded down $0.73 during midday trading on Friday, reaching $393.33. 998,338 shares of the stock were exchanged, compared to its average volume of 1,243,125. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company’s 50 day moving average is $387.86 and its two-hundred day moving average is $383.61. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The firm has a market cap of $109.49 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the business earned $6.55 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities research analysts predict that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. 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 17.12%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DE. Evercore ISI lifted their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Citigroup dropped their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Stifel Nicolaus dropped their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Morgan Stanley started coverage on Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $433.28.

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.