3,700 Shares in Deere & Company $DE Bought by Harvest Portfolios Group Inc.

Key Points

• Harvest Portfolios Group Inc. acquired 3,700 shares of Deere & Company, valued at approximately $1.7 million, during the first quarter, highlighting growing institutional interest in the company.
• Deere & Company reported $4.75 earnings per share for the last quarter, exceeding analysts' expectations of $4.62, despite a 9% revenue decline year-over-year.
• Analysts have varied opinions on Deere & Company, with targets ranging from $525 to $566, and a consensus rating of "Moderate Buy."

Harvest Portfolios Group Inc. bought a new position in Deere & Company (NYSE:DE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,700 shares of the industrial products company's stock, valued at approximately $1,737,000.

A number of other hedge funds have also modified their holdings of DE. Brighton Jones LLC grew its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Bellwether Advisors LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at $64,000. AQR Capital Management LLC grew its holdings in shares of Deere & Company by 30.3% during the fourth quarter. AQR Capital Management LLC now owns 30,170 shares of the industrial products company's stock valued at $12,783,000 after buying an additional 7,019 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Deere & Company by 814.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 26,231 shares of the industrial products company's stock valued at $11,114,000 after buying an additional 23,362 shares in the last quarter. Finally, Evergreen Wealth Solutions LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at $247,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DE. Citigroup lowered their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Oppenheimer lifted their price target on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a report on Friday, August 15th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $523.87.

Deere & Company Price Performance

DE opened at $488.59 on Wednesday. The stock has a market cap of $132.32 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.13 and a beta of 1.06. Deere & Company has a 1 year low of $374.46 and a 1 year high of $533.78. 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 stock has a fifty day moving average price of $507.17 and a 200 day moving average price of $490.91.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The firm 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%.The business's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.29 earnings per share. Analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company 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.

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