Oak Harvest Investment Services Grows Stock Holdings in Deere & Company $DE

Oak Harvest Investment Services increased its holdings in shares of Deere & Company (NYSE:DE) by 205.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,201 shares of the industrial products company’s stock after purchasing an additional 14,944 shares during the period. Deere & Company makes up 1.4% of Oak Harvest Investment Services’ holdings, making the stock its 22nd biggest position. Oak Harvest Investment Services’ holdings in Deere & Company were worth $11,289,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DE. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $25,000. Activest Wealth Management raised its position in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new position in Deere & Company in the second quarter valued at approximately $38,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the second quarter valued at approximately $39,000. Finally, Center for Financial Planning Inc. grew its stake in shares of Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.5%

DE opened at $473.54 on Friday. Deere & Company has a 52 week low of $387.79 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business has a fifty day simple moving average of $465.98 and a 200-day simple moving average of $490.57. The firm has a market cap of $128.01 billion, a P/E ratio of 24.75, a P/E/G ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the business posted $6.29 EPS. On average, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DE. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Tuesday. Wells Fargo & Company began coverage on shares of Deere & Company in a research note on Thursday. They set an “overweight” rating and a $543.00 target price on the stock. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. Robert W. Baird decreased their price objective on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Finally, DA Davidson lowered their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $520.00.

About Deere & Company

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.