Harvest Fund Management Co. Ltd Sells 199 Shares of Deere & Company (NYSE:DE)

Harvest Fund Management Co. Ltd trimmed its position in Deere & Company (NYSE:DE) by 67.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94 shares of the industrial products company’s stock after selling 199 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Deere & Company were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its stake in Deere & Company by 2.4% in the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 22 shares during the last quarter. First Bancorp Inc ME lifted its stake in Deere & Company by 4.7% in the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 23 shares during the last quarter. World Equity Group Inc. lifted its stake in Deere & Company by 4.5% in the 1st quarter. World Equity Group Inc. now owns 552 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 24 shares during the last quarter. Coppell Advisory Solutions LLC lifted its stake in Deere & Company by 2.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 25 shares during the last quarter. Finally, Glen Eagle Advisors LLC lifted its stake in Deere & Company by 0.9% in the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company’s stock valued at $1,244,000 after purchasing an additional 25 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $500.94 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $135.67 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 3.32 and a beta of 1.08. The firm’s fifty day simple moving average is $512.25 and its two-hundred day simple moving average is $486.99. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.53 earnings per share. As a group, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is currently 31.35%.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. UBS Group reduced their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Morgan Stanley boosted their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. BMO Capital Markets restated a “market perform” rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Finally, Truist Financial increased their price objective on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $515.50.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.