Oak Harvest Investment Services Has $2.22 Million Stock Position in Deere & Company (NYSE:DE)

Oak Harvest Investment Services reduced its stake in Deere & Company (NYSE:DE) by 7.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,321 shares of the industrial products company’s stock after selling 420 shares during the quarter. Oak Harvest Investment Services’ holdings in Deere & Company were worth $2,220,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fairscale Capital LLC acquired a new position in shares of Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter valued at $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR grew its stake in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 0.3 %

Shares of NYSE:DE opened at $404.69 on Thursday. The company has a 50-day simple moving average of $399.90 and a 200 day simple moving average of $385.36. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a market capitalization of $111.52 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Ratings Changes

Several equities analysts recently issued reports on DE shares. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Bank of America upped their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Finally, Oppenheimer cut their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.