Harbour Investments Inc. Sells 596 Shares of Deere & Company (NYSE:DE)

Harbour Investments Inc. lessened its holdings in Deere & Company (NYSE:DE) by 9.7% during the third quarter, Holdings Channel.com reports. The firm owned 5,557 shares of the industrial products company’s stock after selling 596 shares during the quarter. Harbour Investments Inc.’s holdings in Deere & Company were worth $2,319,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Mattern Wealth Management LLC raised its position in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the last quarter. Carret Asset Management LLC raised its holdings in Deere & Company by 0.3% in the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares during the last quarter. Round Rock Advisors LLC lifted its stake in shares of Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after buying an additional 25 shares in the last quarter. Centaurus Financial Inc. grew its holdings in shares of Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares during the last quarter. Finally, Cornell Pochily Investment Advisors Inc. increased its position in shares of Deere & Company by 0.7% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after acquiring an additional 26 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $389.45 on Thursday. The company has a market capitalization of $106.55 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.50 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The firm’s 50 day simple moving average is $403.52 and its two-hundred day simple moving average is $385.61. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the company earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Research analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.51%. Deere & Company’s payout ratio is 20.06%.

Wall Street Analysts Forecast Growth

DE has been the topic of several analyst reports. Citigroup upped their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. 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 for the company. Finally, Oppenheimer decreased their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $420.69.

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.