Oak Harvest Investment Services Cuts Stock Position in Deere & Company (NYSE:DE)

Oak Harvest Investment Services lessened its position in Deere & Company (NYSE:DE) by 9.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,803 shares of the industrial products company’s stock after selling 518 shares during the period. Oak Harvest Investment Services’ holdings in Deere & Company were worth $2,035,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Calton & Associates Inc. lifted its position in shares of Deere & Company by 25.5% during the 4th quarter. Calton & Associates Inc. now owns 812 shares of the industrial products company’s stock valued at $344,000 after acquiring an additional 165 shares during the period. Crews Bank & Trust purchased a new stake in Deere & Company during the fourth quarter worth $1,535,000. OLD Second National Bank of Aurora grew its holdings in Deere & Company by 0.9% in the fourth quarter. OLD Second National Bank of Aurora now owns 5,284 shares of the industrial products company’s stock valued at $2,239,000 after purchasing an additional 47 shares during the last quarter. Busey Bank grew its stake in Deere & Company by 5.7% in the 4th quarter. Busey Bank now owns 7,215 shares of the industrial products company’s stock valued at $3,057,000 after acquiring an additional 387 shares during the last quarter. Finally, First Affirmative Financial Network lifted its holdings in shares of Deere & Company by 20.0% in the fourth quarter. First Affirmative Financial Network now owns 925 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.4 %

Deere & Company stock opened at $479.91 on Friday. The company’s 50-day moving average price is $443.22 and its two-hundred day moving average price is $408.60. The stock has a market cap of $130.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 2.95 and a beta of 0.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.26 earnings per share. On average, analysts expect that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.35%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s payout ratio is presently 25.31%.

Analysts Set New Price Targets

A number of brokerages have recently commented on DE. 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 report on Friday, November 22nd. Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Finally, Citigroup dropped their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $444.50.

About Deere & Company

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.