Harbor Capital Advisors Inc. Trims Holdings in Deere & Company (NYSE:DE)

Harbor Capital Advisors Inc. lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 43.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,718 shares of the industrial products company's stock after selling 2,885 shares during the period. Harbor Capital Advisors Inc.'s holdings in Deere & Company were worth $1,745,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DE. Norges Bank bought a new stake in shares of Deere & Company during the 4th quarter valued at $1,244,094,000. GAMMA Investing LLC boosted its holdings in shares of Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after buying an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $541,437,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after buying an additional 1,095,736 shares in the last quarter. Finally, FMR LLC boosted its stake in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DE. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Truist Financial upped their price target on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Raymond James upped their price target on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average price target of $515.19.

Deere & Company Stock Performance

Shares of NYSE DE traded up $14.68 during midday trading on Monday, hitting $524.27. 1,277,438 shares of the company's stock traded hands, compared to its average volume of 1,393,286. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The stock has a market capitalization of $141.99 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a fifty day moving average of $489.49 and a 200 day moving average of $468.95.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 EPS. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is 31.35%.

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.