Carret Asset Management LLC Lowers Stock Holdings in Deere & Company (NYSE:DE)

Carret Asset Management LLC cut its position in shares of Deere & Company (NYSE:DE) by 2.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 8,043 shares of the industrial products company’s stock after selling 224 shares during the period. Carret Asset Management LLC’s holdings in Deere & Company were worth $3,303,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC boosted its stake in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares in the last quarter. ZRC Wealth Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at $28,000. Rakuten Securities Inc. purchased a new position in Deere & Company in the 4th quarter worth $28,000. Naples Money Management LLC bought a new stake in Deere & Company in the fourth quarter worth $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $29,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.6 %

NYSE:DE traded down $2.16 during trading hours on Wednesday, reaching $362.79. 667,895 shares of the company traded hands, compared to its average volume of 1,510,055. The business’s 50-day moving average price is $383.89 and its two-hundred day moving average price is $386.94. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $99.97 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.50 and a beta of 0.93. Deere & Company has a 1 year low of $353.15 and a 1 year high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue was down 15.4% compared to the same quarter last year. During the same period last year, the business earned $9.65 EPS. Analysts predict that Deere & Company will post 25.59 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.62%. Deere & Company’s payout ratio is currently 17.70%.

Analyst Ratings Changes

Several research analysts have recently commented on DE shares. Stifel Nicolaus lifted their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Citigroup assumed coverage on shares of Deere & Company in a research report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price target for the company. Truist Financial decreased their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James began coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. Finally, TD Cowen upped their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $427.66.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.

Deere & Company Company Profile

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.