Carlson Capital Management Acquires Shares of 625 Deere & Company (NYSE:DE)

Carlson Capital Management acquired a new position in Deere & Company (NYSE:DE) in the third quarter, Holdings Channel reports. The institutional investor acquired 625 shares of the industrial products company’s stock, valued at approximately $261,000.

A number of other large investors have also recently made changes to their positions in the business. FMR LLC raised its position in Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Legal & General Group Plc increased its position in shares of Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after acquiring an additional 60,255 shares during the period. Dimensional Fund Advisors LP grew its stake in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Deere & Company by 8.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after buying an additional 158,732 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its position in shares of Deere & Company by 11.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock worth $559,901,000 after buying an additional 139,336 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 0.8 %

NYSE:DE traded down $3.87 during trading hours on Tuesday, reaching $458.82. 402,944 shares of the stock were exchanged, compared to its average volume of 1,448,687. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The business has a 50-day moving average of $408.35 and a two-hundred day moving average of $386.60. The company has a market capitalization of $125.53 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.75 and a beta of 0.93. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the prior year, the company earned $8.26 EPS. Deere & Company’s revenue was down 32.8% on a year-over-year basis. On average, equities analysts predict that Deere & Company will post 21.31 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 22.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DE shares. Bank of America lifted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Oppenheimer lifted their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial upped their target price on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday. Finally, UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $433.00.

Deere & 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.