Harvest Fund Management Co. Ltd Invests $124,000 in Deere & Company (NYSE:DE)

Harvest Fund Management Co. Ltd bought a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 293 shares of the industrial products company’s stock, valued at approximately $124,000.

Other large investors have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC increased its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC increased its stake in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. Truist Financial reissued a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. Finally, Evercore ISI increased their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $460.00.

Deere & Company Stock Down 1.1 %

Shares of NYSE:DE opened at $471.90 on Friday. The stock has a market cap of $128.08 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.14 and a beta of 1.01. The firm has a fifty day moving average price of $473.25 and a 200 day moving average price of $436.57. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Sell-side 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 Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

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.