Deere & Company (NYSE:DE) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC reduced its position in Deere & Company (NYSE:DE) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,440 shares of the industrial products company’s stock after selling 130 shares during the period. Harbor Investment Advisory LLC’s holdings in Deere & Company were worth $610,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. DLK Investment Management LLC increased its position in shares of Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after acquiring an additional 24 shares in the last quarter. Mechanics Bank Trust Department raised its position in Deere & Company by 23.8% in the fourth quarter. Mechanics Bank Trust Department now owns 1,776 shares of the industrial products company’s stock valued at $752,000 after purchasing an additional 342 shares during the period. Mandatum Life Insurance Co Ltd lifted its stake in shares of Deere & Company by 37.5% during the fourth quarter. Mandatum Life Insurance Co Ltd now owns 2,938 shares of the industrial products company’s stock worth $1,245,000 after purchasing an additional 801 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Deere & Company by 2.6% in the fourth quarter. Grove Bank & Trust now owns 1,601 shares of the industrial products company’s stock worth $678,000 after buying an additional 41 shares during the period. Finally, Brady Martz Wealth Solutions LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $628,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $463.06 on Wednesday. The company has a market cap of $126.11 billion, a P/E ratio of 18.09, a PEG ratio of 2.81 and a beta of 0.98. The business has a 50 day moving average of $432.55 and a two-hundred day moving average of $403.19. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the business earned $8.26 EPS. The firm’s revenue was down 32.8% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. UBS Group lifted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Oppenheimer lifted their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $442.83.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.