Deere & Company $DE Shares Purchased by Oak Harvest Investment Services

Key Points

• Oak Harvest Investment Services increased its holdings in Deere & Company by 51.1%, owning 7,257 shares valued at approximately $3.4 million after acquiring an additional 2,454 shares.
• Deere & Company reported $4.75 earnings per share for the last quarter, exceeding expectations, and generated $10.36 billion in revenue, which is a 9% decrease year-over-year.
• The company declared a quarterly dividend of $1.62, translating to an annualized dividend of $6.48 and a dividend yield of 1.3%.

Oak Harvest Investment Services lifted its holdings in Deere & Company (NYSE:DE - Free Report) by 51.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,257 shares of the industrial products company's stock after purchasing an additional 2,454 shares during the quarter. Oak Harvest Investment Services' holdings in Deere & Company were worth $3,406,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Deere & Company by 39.1% during 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 period. CANADA LIFE ASSURANCE Co acquired a new stake in Deere & Company during the 4th quarter worth about $2,110,000. Adage Capital Partners GP L.L.C. acquired a new stake in Deere & Company during the 4th quarter worth about $22,940,000. Integrated Wealth Concepts LLC lifted its position in Deere & Company by 14.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 8,832 shares of the industrial products company's stock worth $3,742,000 after acquiring an additional 1,137 shares during the period. Finally, Shorepoint Capital Partners LLC lifted its position in Deere & Company by 2.1% during the 4th quarter. Shorepoint Capital Partners LLC now owns 8,210 shares of the industrial products company's stock worth $3,478,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Performance

NYSE DE opened at $495.0920 on Friday. The stock has a 50-day simple moving average of $508.58 and a two-hundred day simple moving average of $490.59. The firm has a market capitalization of $134.08 billion, a P/E ratio of 25.88, a PEG ratio of 3.17 and a beta of 1.06. Deere & Company has a fifty-two week low of $374.46 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

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 for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business posted $6.29 EPS. The company's revenue was down 9.0% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, June 30th. Deere & Company's payout ratio is currently 33.87%.

Analyst Ratings Changes

A number of analysts have commented on DE shares. Raymond James Financial lifted their price target on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Truist Financial lowered their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Oppenheimer lifted their price target on Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, Citigroup reduced their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $523.87.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.