Harbor Capital Advisors Inc. Has $2.80 Million Stock Holdings in Deere & Company (NYSE:DE)

Harbor Capital Advisors Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,603 shares of the industrial products company’s stock after purchasing an additional 148 shares during the period. Harbor Capital Advisors Inc.’s holdings in Deere & Company were worth $2,798,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Everence Capital Management Inc. boosted its position in shares of Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Stockbridge Partners LLC boosted its holdings in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Toronto Dominion Bank grew its stake in Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after acquiring an additional 1,291 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its position in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 0.4 %

Shares of DE stock opened at $408.45 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a 50 day moving average of $427.99 and a 200-day moving average of $399.91. The firm has a market cap of $110.92 billion, a P/E ratio of 15.96, a PEG ratio of 1.91 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the company posted $8.26 earnings per share. Sell-side analysts anticipate that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DE shares. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Truist Financial upped their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup raised their price target on shares of Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Finally, Oppenheimer boosted their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $443.94.

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.