Harrington Investments INC Decreases Stock Position in Deere & Company (NYSE:DE)

Harrington Investments INC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 1.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,734 shares of the industrial products company’s stock after selling 76 shares during the quarter. Deere & Company accounts for approximately 1.3% of Harrington Investments INC’s investment portfolio, making the stock its 28th biggest position. Harrington Investments INC’s holdings in Deere & Company were worth $2,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Robertson Stephens Wealth Management LLC lifted its position in shares of Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares during the period. Quent Capital LLC raised its stake in Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after buying an additional 24 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after buying an additional 24 shares during the period. Coppell Advisory Solutions LLC lifted its holdings in Deere & Company by 2.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock worth $432,000 after buying an additional 25 shares during the period. Finally, Glen Eagle Advisors LLC boosted its position in Deere & Company by 0.9% during the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company’s stock valued at $1,244,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.7%

Shares of Deere & Company stock opened at $519.62 on Friday. The firm’s 50 day simple moving average is $479.20 and its two-hundred day simple moving average is $465.95. The firm has a market capitalization of $140.73 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.14 and a beta of 1.09. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm’s revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $8.53 EPS. Analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is presently 31.35%.

Wall Street Analyst Weigh In

DE has been the subject of a number of analyst reports. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday. UBS Group reduced their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. BMO Capital Markets restated a “market perform” rating and issued a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, DA Davidson reissued a “buy” rating and set a $542.00 target price on shares of Deere & Company in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company 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.