Deere & Company (NYSE:DE) Shares Bought by Harrington Investments INC

Harrington Investments INC boosted its stake in shares of Deere & Company (NYSE:DE) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,743 shares of the industrial products company’s stock after buying an additional 35 shares during the period. Harrington Investments INC’s holdings in Deere & Company were worth $1,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in Deere & Company in the second quarter valued at $26,000. Pineridge Advisors LLC raised its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Olistico Wealth LLC purchased a new stake in Deere & Company in the second quarter valued at $37,000. Centennial Bank AR raised its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. raised its position in Deere & Company by 2,500.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Raymond James assumed coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday. Citigroup boosted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

Shares of NYSE DE opened at $407.72 on Tuesday. The stock’s 50-day moving average is $388.27 and its two-hundred day moving average is $385.25. The company has a market cap of $112.36 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.20 EPS. Analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio is currently 17.70%.

About Deere & Company

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.