Deere & Company (NYSE:DE) Stake Cut by Harfst & Associates Inc.

Harfst & Associates Inc. decreased its holdings in shares of Deere & Company (NYSE:DE) by 37.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 670 shares of the industrial products company’s stock after selling 400 shares during the period. Harfst & Associates Inc.’s holdings in Deere & Company were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of DE. Pineridge Advisors LLC boosted its position in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Fairscale Capital LLC acquired a new position in shares of Deere & Company during the second quarter valued at $26,000. Olistico Wealth LLC bought a new position in shares of Deere & Company during the second quarter worth about $37,000. Financial Synergies Wealth Advisors Inc. increased its holdings in shares of Deere & Company by 2,500.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the period. Finally, Centennial Bank AR lifted its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on DE shares. BMO Capital Markets assumed coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, Truist Financial raised their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Trading Up 0.9 %

Shares of NYSE:DE traded up $3.59 during midday trading on Friday, reaching $408.73. The company had a trading volume of 749,969 shares, compared to its average volume of 1,470,607. The company has a fifty day simple moving average of $393.03 and a two-hundred day simple moving average of $385.53. The firm has a market cap of $112.63 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the company posted $10.20 earnings per share. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. Research analysts predict that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Deere & Company Company Profile

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.