Oak Harvest Investment Services Grows Position in Deere & Company $DE

Oak Harvest Investment Services raised its position in Deere & Company (NYSE:DE) by 205.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,201 shares of the industrial products company’s stock after acquiring an additional 14,944 shares during the quarter. Deere & Company makes up about 1.4% of Oak Harvest Investment Services’ holdings, making the stock its 22nd biggest holding. Oak Harvest Investment Services’ holdings in Deere & Company were worth $11,289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the 2nd quarter worth $25,000. Activest Wealth Management increased its holdings in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new position in Deere & Company in the second quarter valued at $38,000. Center for Financial Planning Inc. raised its stake in Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after buying an additional 61 shares in the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 1.5%

Shares of NYSE:DE opened at $473.54 on Friday. Deere & Company has a 1-year low of $387.79 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a market cap of $128.01 billion, a P/E ratio of 24.75, a P/E/G ratio of 3.05 and a beta of 1.04. The firm has a fifty day moving average price of $465.98 and a 200 day moving average price of $490.57.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the prior year, the company earned $6.29 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DE. Jefferies Financial Group dropped their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research note on Tuesday, October 28th. Truist Financial raised their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a report on Tuesday. Finally, Zacks Research lowered shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $520.00.

About Deere & Company

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.