Deere & Company (NYSE:DE) Shares Sold by Harbor Capital Advisors Inc.

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

A number of other large investors also recently modified their holdings of the company. Orion Capital Management LLC purchased a new position in Deere & Company in the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the fourth quarter worth $39,000. Dogwood Wealth Management LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at $42,000. Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company during the 4th quarter valued at $43,000. Finally, Sierra Ocean LLC acquired a new position in shares of Deere & Company during the 4th quarter valued at $44,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE traded down $7.82 during trading hours on Friday, hitting $509.04. 824,497 shares of the stock were exchanged, compared to its average volume of 1,394,869. The stock has a market cap of $137.86 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The stock has a 50-day simple moving average of $485.29 and a 200-day simple moving average of $468.18. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. Deere & Company's payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America raised their price objective on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. JPMorgan Chase & Co. upped their price target on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, Truist Financial raised their price target on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $515.19.

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.