Harbour Trust & Investment Management Co Purchases 390 Shares of Deere & Company (NYSE:DE)

Harbour Trust & Investment Management Co grew its position in shares of Deere & Company (NYSE:DE) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,005 shares of the industrial products company’s stock after purchasing an additional 390 shares during the quarter. Deere & Company comprises approximately 1.3% of Harbour Trust & Investment Management Co’s investment portfolio, making the stock its 22nd largest position. Harbour Trust & Investment Management Co’s holdings in Deere & Company were worth $11,687,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DE. Mattern Wealth Management LLC lifted its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after buying an additional 25 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. lifted its holdings in shares of Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after buying an additional 26 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Deere & Company by 0.9% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock valued at $1,293,000 after buying an additional 27 shares during the period. Finally, First Foundation Advisors lifted its holdings in shares of Deere & Company by 2.3% in the 1st quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock valued at $513,000 after buying an additional 28 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup raised their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Evercore ISI raised their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Bank of America raised their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Morgan Stanley dropped their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

Shares of DE opened at $411.03 on Friday. The firm has a market capitalization of $113.27 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The stock’s fifty day moving average is $396.54 and its 200-day moving average is $385.38.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company earned $10.20 earnings per share. Equities analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

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.