Harbour Trust & Investment Management Co Increases Stock Position in Deere & Company $DE

Harbour Trust & Investment Management Co raised its position in shares of Deere & Company (NYSE:DE) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,085 shares of the industrial products company’s stock after buying an additional 656 shares during the period. Deere & Company comprises about 1.6% of Harbour Trust & Investment Management Co’s investment portfolio, making the stock its 16th biggest holding. Harbour Trust & Investment Management Co’s holdings in Deere & Company were worth $14,789,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management boosted its position in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC purchased a new stake in Deere & Company during the 1st quarter valued at $29,000. Cornerstone Planning Group LLC boosted its position in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company during the 2nd quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 1.6%

Shares of Deere & Company stock opened at $439.00 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a 50-day moving average of $477.70 and a 200 day moving average of $488.26. The firm has a market cap of $118.67 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.87 and a beta of 1.02. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the business earned $6.29 EPS. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Analyst Ratings Changes

Several equities research analysts have weighed in on DE shares. Truist Financial increased their price target on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Daiwa Capital Markets decreased their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Oppenheimer decreased their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $513.88.

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.