S Harris Financial Group LLC Purchases Shares of 909 Deere & Company $DE

S Harris Financial Group LLC purchased a new position in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 909 shares of the industrial products company’s stock, valued at approximately $423,000.

Other large investors also recently modified their holdings of the company. Cary Street Partners Financial LLC lifted its position in Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after acquiring an additional 1,086 shares in the last quarter. Spectrum Financial Alliance Ltd LLC boosted its stake in Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after acquiring an additional 30,553 shares during the last quarter. Westpac Banking Corp lifted its position in shares of Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after purchasing an additional 3,047 shares during the last quarter. Legal & General Group Plc lifted its holdings in Deere & Company by 7.6% during the 3rd quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock worth $755,385,000 after buying an additional 115,975 shares during the last quarter. Finally, Eldred Rock Partners LLC bought a new position in Deere & Company during the fourth quarter worth $13,166,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $590.37 on Friday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm’s 50-day simple moving average is $573.71 and its 200 day simple moving average is $552.66. 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 stock has a market cap of $159.36 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.64 earnings per share. Equities analysts expect that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DE shares. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. BMO Capital Markets raised their price target on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Sanford C. Bernstein boosted their price objective on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Finally, Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

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.