Everett Harris & Co. CA Invests $1.39 Million in Deere & Company $DE

Everett Harris & Co. CA acquired a new stake in shares of Deere & Company (NYSE:DE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,183 shares of the industrial products company’s stock, valued at approximately $1,385,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Deere & Company by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after buying an additional 198,332 shares during the period. State Street Corp boosted its position in Deere & Company by 0.9% during the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after acquiring an additional 97,049 shares in the last quarter. Capital World Investors increased its holdings in shares of Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Deere & Company by 2.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after acquiring an additional 158,584 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Deere & Company by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after acquiring an additional 17,269 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DE. Truist Financial upped their price objective on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. DA Davidson reiterated a “buy” rating and issued a $685.00 target price on shares of Deere & Company in a report on Friday, July 17th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Raymond James Financial lowered their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $641.98.

Deere & Company Stock Performance

DE opened at $608.73 on Friday. The company has a market cap of $164.32 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 2.59 and a beta of 0.90. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The firm’s 50-day moving average price is $603.23 and its 200-day moving average price is $587.77. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $6.64 EPS. As a group, equities analysts anticipate that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were issued a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

About Deere & Company

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.