Harvey Investment Co. LLC Trims Stock Position in Deere & Company (NYSE:DE)

Harvey Investment Co. LLC cut its position in Deere & Company (NYSE:DE) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,301 shares of the industrial products company’s stock after selling 62 shares during the quarter. Harvey Investment Co. LLC’s holdings in Deere & Company were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Modus Advisors LLC bought a new position in Deere & Company in the fourth quarter valued at $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter valued at about $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company during the fourth quarter worth about $35,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DE. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays upped 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 boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $444.50.

Deere & Company Stock Down 0.6 %

NYSE:DE opened at $464.69 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm’s 50-day moving average price is $445.01 and its 200-day moving average price is $412.26. The company has a market capitalization of $126.56 billion, a PE ratio of 18.15, a P/E/G ratio of 2.94 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84.

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, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the prior year, the company earned $8.26 earnings per share. The business’s revenue was down 32.8% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

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.