Harbour Trust & Investment Management Co Boosts Position in Deere & Company (NYSE:DE)

Harbour Trust & Investment Management Co raised its holdings in shares of Deere & Company (NYSE:DE) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,005 shares of the industrial products company’s stock after acquiring an additional 390 shares during the quarter. Deere & Company makes up 1.3% of Harbour Trust & Investment Management Co’s portfolio, making the stock its 22nd largest holding. Harbour Trust & Investment Management Co’s holdings in Deere & Company were worth $11,687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sunbelt Securities Inc. grew its stake in shares of Deere & Company by 11.6% during the first quarter. Sunbelt Securities Inc. now owns 714 shares of the industrial products company’s stock valued at $293,000 after buying an additional 74 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of Deere & Company by 38.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,652 shares of the industrial products company’s stock valued at $1,911,000 after purchasing an additional 1,296 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Deere & Company by 45.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 77,781 shares of the industrial products company’s stock valued at $31,948,000 after acquiring an additional 24,171 shares during the period. Thrive Wealth Management LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $218,000. Finally, Hennessy Advisors Inc. increased its position in shares of Deere & Company by 14.5% in the 1st quarter. Hennessy Advisors Inc. now owns 7,100 shares of the industrial products company’s stock valued at $2,916,000 after acquiring an additional 900 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DE shares. Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Raymond James initiated coverage on shares of Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. Oppenheimer dropped 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 report on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

Shares of DE opened at $411.03 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The company has a market capitalization of $113.27 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company’s fifty day moving average price is $396.54 and its 200 day moving average price is $385.38. Deere & Company has a one year low of $340.20 and a one year high of $420.47.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Deere & 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.