Harbor Financial Services LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,463 shares of the industrial products company’s stock, valued at approximately $547,000.
Other large investors also recently modified their holdings of the company. Diamant Asset Management Inc. grew its position in shares of Deere & Company by 2.3% during the first quarter. Diamant Asset Management Inc. now owns 1,217 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 27 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in shares of Deere & Company by 2.2% during the first quarter. TCI Wealth Advisors Inc. now owns 1,327 shares of the industrial products company’s stock worth $496,000 after purchasing an additional 29 shares in the last quarter. Choate Investment Advisors grew its position in shares of Deere & Company by 0.8% during the first quarter. Choate Investment Advisors now owns 3,621 shares of the industrial products company’s stock worth $1,355,000 after purchasing an additional 29 shares in the last quarter. Foster Group Inc. grew its position in shares of Deere & Company by 2.4% during the first quarter. Foster Group Inc. now owns 1,296 shares of the industrial products company’s stock worth $485,000 after purchasing an additional 30 shares in the last quarter. Finally, ProVise Management Group LLC grew its position in shares of Deere & Company by 2.2% during the first quarter. ProVise Management Group LLC now owns 1,380 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 66.56% of the company’s stock.
NYSE DE traded down $2.22 on Friday, reaching $359.99. 6,326 shares of the stock traded hands, compared to its average volume of 1,742,534. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.05 and a current ratio of 2.29. The company has a fifty day moving average price of $376.24 and a 200-day moving average price of $322.16. The company has a market cap of $112.84 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 0.99 and a beta of 1.04. Deere & Company has a 12 month low of $147.40 and a 12 month high of $400.34.
Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 20th. The industrial products company reported $5.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.44 by $1.24. The business had revenue of $11 billion during the quarter, compared to analyst estimates of $10.27 billion. Deere & Company had a return on equity of 33.31% and a net margin of 11.51%. Deere & Company’s revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.11 EPS. As a group, research analysts anticipate that Deere & Company will post 17.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 9th. Shareholders of record on Wednesday, June 30th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, June 29th. Deere & Company’s dividend payout ratio (DPR) is presently 41.43%.
Several equities analysts have weighed in on the company. Robert W. Baird raised their price target on Deere & Company from $375.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, May 13th. Wolfe Research assumed coverage on Deere & Company in a report on Monday, April 19th. They set an “outperform” rating and a $425.00 price target for the company. Credit Suisse Group raised their price target on Deere & Company from $403.00 to $427.00 and gave the company an “outperform” rating in a report on Monday. Barclays raised their price target on Deere & Company from $330.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 22nd. Finally, Jefferies Financial Group raised their price target on Deere & Company from $400.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Deere & Company currently has a consensus rating of “Buy” and an average target price of $352.22.
About Deere & Company
Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.
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