Deere & Company (NYSE:DE) Stock Position Cut by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC trimmed its holdings in Deere & Company (NYSE:DE) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,543 shares of the industrial products company’s stock after selling 50 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Deere & Company were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of DE. Oppenheimer Asset Management Inc. boosted its position in shares of Deere & Company by 20.5% in 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 during the period. Chase Investment Counsel Corp increased its position in Deere & Company by 53.8% in 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. Balentine LLC acquired a new stake in Deere & Company in the third quarter worth about $710,000. Royal Fund Management LLC boosted its holdings in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after buying an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC bought a new position in shares of Deere & Company during the 3rd quarter valued at about $1,052,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.3 %

Shares of NYSE DE opened at $394.68 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a market capitalization of $107.98 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm’s 50-day moving average is $403.47 and its two-hundred day moving average is $385.64.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the business earned $10.20 earnings per share. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s payout ratio is currently 20.06%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DE shares. BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Oppenheimer lowered their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Truist Financial raised their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.