Oak Harvest Investment Services Has $488,000 Stake in Deere & Company $DE

Oak Harvest Investment Services lowered its stake in shares of Deere & Company (NYSE:DE) by 95.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067 shares of the industrial products company’s stock after selling 21,134 shares during the quarter. Oak Harvest Investment Services’ holdings in Deere & Company were worth $488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Deere & Company during the 2nd quarter worth $1,578,243,000. Marshall Wace LLP grew its stake in Deere & Company by 573.9% during the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after buying an additional 717,808 shares in the last quarter. TD Asset Management Inc increased its holdings in Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after buying an additional 410,636 shares during the period. Voya Investment Management LLC raised its position in shares of Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after buying an additional 361,526 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its holdings in shares of Deere & Company by 50,691.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after acquiring an additional 331,525 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.0%

Shares of DE opened at $470.11 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The stock has a market capitalization of $127.14 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.80 and a beta of 1.00. The stock has a fifty day moving average of $473.46 and a 200-day moving average of $484.07.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The firm had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.Deere & Company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.55 EPS. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

Insider Buying and Selling

In related news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the sale, the chief executive officer directly owned 112,453 shares in the company, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. Evercore ISI reissued a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Sanford C. Bernstein restated a “market perform” rating on shares of Deere & Company in a research report on Tuesday, December 9th. Finally, Daiwa Capital Markets reduced their price objective on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $522.70.

About Deere & Company

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.