Harvest Fund Management Co. Ltd Sells 199 Shares of Deere & Company (NYSE:DE)

Harvest Fund Management Co. Ltd decreased its position in Deere & Company (NYSE:DE) by 67.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 94 shares of the industrial products company’s stock after selling 199 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Deere & Company were worth $44,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in shares of Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after buying an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after buying an additional 798 shares in the last quarter. Stenger Family Office LLC bought a new position in shares of Deere & Company in the fourth quarter valued at $3,144,000. Stratos Investment Management LLC bought a new position in shares of Deere & Company in the first quarter valued at $271,000. Finally, Telos Capital Management Inc. grew its stake in shares of Deere & Company by 28.2% in the first quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company’s stock valued at $1,592,000 after buying an additional 746 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 4.5%

Shares of DE stock opened at $500.94 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The stock has a market cap of $135.67 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 3.32 and a beta of 1.08. The stock has a 50 day simple moving average of $512.25 and a 200 day simple moving average of $486.99. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $8.53 earnings per share. On average, research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

Several research firms recently weighed in on DE. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Truist Financial lifted their target price on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Morgan Stanley lifted their target price on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Finally, UBS Group reduced their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $515.50.

Deere & Company Profile

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.