Harbor Investment Advisory LLC Purchases 372 Shares of Deere & Company (NYSE:DE)

Harbor Investment Advisory LLC lifted its position in shares of Deere & Company (NYSE:DE) by 27.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,730 shares of the industrial products company’s stock after buying an additional 372 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Deere & Company were worth $710,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DE. True Wealth Design LLC raised its stake in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC acquired a new stake in Deere & Company during the fourth quarter worth about $28,000. Rakuten Securities Inc. acquired a new stake in Deere & Company during the fourth quarter worth about $28,000. Naples Money Management LLC acquired a new stake in Deere & Company during the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Deere & Company during the fourth quarter worth about $29,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.8 %

DE opened at $378.17 on Tuesday. The business has a 50 day moving average price of $387.23 and a two-hundred day moving average price of $387.04. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The company has a market cap of $104.21 billion, a PE ratio of 11.38, a P/E/G ratio of 1.51 and a beta of 0.98. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the business earned $9.65 EPS. The firm’s revenue was down 15.4% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Wall Street Analyst Weigh In

Several analysts have commented on DE shares. DA Davidson dropped their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. TD Cowen raised their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Oppenheimer reiterated an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. Finally, Morgan Stanley lifted their price objective on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $433.36.

About Deere & Company

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.