Carson Advisory Inc. Acquires Shares of 429 Deere & Company (NYSE:DE)

Carson Advisory Inc. bought a new stake in Deere & Company (NYSE:DE) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 429 shares of the industrial products company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hughes Financial Services LLC purchased a new position in Deere & Company during the first quarter worth $29,000. Cornerstone Planning Group LLC boosted its stake in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares during the period. Orion Capital Management LLC purchased a new position in Deere & Company during the fourth quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company during the fourth quarter worth $39,000. Finally, Dogwood Wealth Management LLC purchased a new position in Deere & Company during the fourth quarter worth $42,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on DE. Truist Financial lifted their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Raymond James Financial lifted their target price on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Morgan Stanley lifted their target price on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Finally, Oppenheimer set a $560.00 target price on Deere & Company and gave the stock an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus target price of $515.50.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $499.98 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company has a market capitalization of $135.41 billion, a PE ratio of 24.19, a P/E/G ratio of 3.22 and a beta of 1.08. The company has a 50-day simple moving average of $512.70 and a two-hundred day simple moving average of $480.12. Deere & Company has a one year low of $340.20 and a one year high of $533.78.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same period last year, the business earned $8.53 EPS. Deere & Company’s revenue for the quarter was down 17.9% on a year-over-year basis. Research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.30%. Deere & Company’s dividend payout ratio is currently 31.35%.

Deere & Company 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.