K.J. Harrison & Partners Inc Takes $408,000 Position in Deere & Company (NYSE:DE)

K.J. Harrison & Partners Inc bought a new stake in Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,020 shares of the industrial products company’s stock, valued at approximately $408,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pinnacle Associates Ltd. increased its position in Deere & Company by 21.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after purchasing an additional 939 shares during the period. Penserra Capital Management LLC boosted its holdings in Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after buying an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after buying an additional 900 shares during the last quarter. Centric Wealth Management bought a new position in Deere & Company during the third quarter worth about $2,640,000. Finally, Graham Capital Management L.P. boosted its holdings in Deere & Company by 483.3% during the third quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after buying an additional 14,500 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.2 %

Shares of NYSE:DE traded down $0.73 during trading on Friday, hitting $393.33. 998,338 shares of the company were exchanged, compared to its average volume of 1,243,125. The stock has a market cap of $109.49 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The firm has a fifty day moving average price of $387.86 and a two-hundred day moving average price of $383.61. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.55 EPS. As a group, research analysts anticipate that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Analyst Ratings Changes

A number of equities analysts have issued reports on DE shares. JPMorgan Chase & Co. raised their target price on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Wells Fargo & Company reduced their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Melius Research reiterated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $433.28.

About Deere & Company

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.