Carlson Capital Management Takes Position in Deere & Company (NYSE:DE)

Carlson Capital Management purchased a new stake in shares of Deere & Company (NYSE:DE) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 625 shares of the industrial products company’s stock, valued at approximately $261,000.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after purchasing an additional 770,451 shares during the last quarter. Swedbank AB purchased a new position in shares of Deere & Company in the first quarter worth $191,628,000. Finally, Mawer Investment Management Ltd. purchased a new position in shares of Deere & Company in the second quarter worth $166,937,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Truist Financial upped their price target on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday. Citigroup boosted their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $433.00.

Deere & Company Price Performance

Deere & Company stock traded down $3.87 during mid-day trading on Tuesday, hitting $458.82. The stock had a trading volume of 402,944 shares, compared to its average volume of 1,448,687. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm’s 50 day moving average is $408.35 and its 200 day moving average is $386.60. The firm has a market capitalization of $125.53 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.75 and a beta of 0.93. Deere & Company has a one year low of $340.20 and a one year high of $469.39.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the company earned $8.26 EPS. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 21.31 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

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.