Harbour Investments Inc. Buys 82 Shares of Deere & Company (NYSE:DE)

Harbour Investments Inc. lifted its stake in Deere & Company (NYSE:DE) by 1.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,153 shares of the industrial products company’s stock after buying an additional 82 shares during the quarter. Harbour Investments Inc.’s holdings in Deere & Company were worth $2,299,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DE. Norges Bank bought a new position in shares of Deere & Company during the 4th quarter valued at about $1,248,036,000. Parnassus Investments LLC increased its holdings in shares of Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares during the last quarter. Swedbank AB bought a new stake in shares of Deere & Company in the first quarter worth about $191,628,000. Vanguard Group Inc. boosted its stake in Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after buying an additional 263,709 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Deere & Company by 3,064.1% during the first quarter. SG Americas Securities LLC now owns 175,386 shares of the industrial products company’s stock valued at $72,038,000 after buying an additional 169,843 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.7 %

Shares of NYSE DE traded up $2.62 during trading hours on Wednesday, reaching $378.60. The stock had a trading volume of 509,591 shares, compared to its average volume of 1,528,631. Deere & Company has a 52-week low of $340.20 and a 52-week high of $423.35. The firm has a market cap of $104.33 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.59 and a beta of 0.93. The business’s fifty day moving average price is $367.96 and its two-hundred day moving average price is $379.87. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last issued 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 return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the previous year, the company posted $10.20 EPS. Deere & Company’s revenue was down 20.3% on a year-over-year basis. Analysts expect that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed 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. This represents a $5.88 dividend on an annualized basis and a yield of 1.55%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America upped their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley dropped their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday. Daiwa Capital Markets upped their target price on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, TD Cowen increased their price target on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $414.11.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

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.