Carret Asset Management LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Carret Asset Management LLC lessened its stake in shares of Deere & Company (NYSE:DE) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,159 shares of the industrial products company’s stock after selling 989 shares during the quarter. Carret Asset Management LLC’s holdings in Deere & Company were worth $3,033,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Midwest Professional Planners LTD. raised its stake in shares of Deere & Company by 13.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 1,616 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 193 shares during the last quarter. Intact Investment Management Inc. grew its holdings in Deere & Company by 25.0% during the fourth quarter. Intact Investment Management Inc. now owns 3,900 shares of the industrial products company’s stock worth $1,652,000 after acquiring an additional 780 shares during the period. Aviso Financial Inc. grew its holdings in Deere & Company by 7.1% during the fourth quarter. Aviso Financial Inc. now owns 3,054 shares of the industrial products company’s stock worth $1,294,000 after acquiring an additional 203 shares during the period. Atala Financial Inc acquired a new position in Deere & Company during the fourth quarter worth $4,562,000. Finally, LBP AM SA grew its holdings in Deere & Company by 56.9% during the fourth quarter. LBP AM SA now owns 7,689 shares of the industrial products company’s stock worth $3,258,000 after acquiring an additional 2,789 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. Evercore ISI upped their price objective on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Truist Financial reissued a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $460.00.

Deere & Company Stock Performance

NYSE DE opened at $466.64 on Friday. The business’s 50-day moving average price is $465.46 and its 200 day moving average price is $432.18. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a market capitalization of $126.65 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.39%. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.