Harbour Investments Inc. Increases Stock Position in Deere & Company $DE

Harbour Investments Inc. grew its stake in shares of Deere & Company (NYSE:DE) by 31.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,657 shares of the industrial products company’s stock after buying an additional 2,062 shares during the quarter. Harbour Investments Inc.’s holdings in Deere & Company were worth $4,031,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after buying an additional 198,332 shares during the period. Capital World Investors grew its stake in shares of Deere & Company by 5.5% during the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock valued at $2,850,687,000 after buying an additional 322,582 shares during the period. Fisher Asset Management LLC grew its stake in shares of Deere & Company by 4.8% during the 4th quarter. Fisher Asset Management LLC now owns 2,853,156 shares of the industrial products company’s stock valued at $1,328,344,000 after buying an additional 131,138 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after buying an additional 1,893,972 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after buying an additional 1,721,239 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. Royal Bank Of Canada boosted their price objective on shares of Deere & Company from $736.00 to $752.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup cut their target price on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Truist Financial cut their target price on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a research note on Tuesday. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a research note on Wednesday, April 8th. Finally, BMO Capital Markets raised their target price on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $639.83.

Deere & Company Stock Performance

Shares of DE stock opened at $529.99 on Wednesday. The company’s fifty day simple moving average is $574.42 and its 200-day simple moving average is $541.18. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market cap of $143.16 billion, a PE ratio of 30.03, a P/E/G ratio of 1.84 and a beta of 0.96.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $11.78 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter last year, the firm posted $6.64 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Deere & Company will post 18.05 EPS for the current year.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.