Harbour Trust & Investment Management Co Purchases 656 Shares of Deere & Company $DE

Harbour Trust & Investment Management Co raised its position in shares of Deere & Company (NYSE:DE) by 2.3% in the second quarter, Holdings Channel reports. The firm owned 29,085 shares of the industrial products company’s stock after acquiring an additional 656 shares during the quarter. Deere & Company accounts for 1.6% of Harbour Trust & Investment Management Co’s holdings, making the stock its 16th biggest holding. Harbour Trust & Investment Management Co’s holdings in Deere & Company were worth $14,789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Activest Wealth Management increased its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new stake in Deere & Company during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC increased its stake in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new stake in Deere & Company during the 2nd quarter valued at about $38,000. Finally, Livelsberger Financial Advisory bought a new stake in Deere & Company during the 2nd quarter valued at about $39,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE opened at $439.00 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market cap of $118.67 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.87 and a beta of 1.02. The company’s 50 day moving average is $477.70 and its 200 day moving average is $488.26. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

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

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.5%. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DE shares. Truist Financial raised their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. Citigroup reduced their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Finally, Jefferies Financial Group reduced their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus target price of $513.88.

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.