Mccarter Private Wealth Services LLC Has $2.31 Million Stake in Deere & Company $DE

Mccarter Private Wealth Services LLC increased its holdings in Deere & Company (NYSE:DE) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,930 shares of the industrial products company’s stock after buying an additional 31 shares during the period. Deere & Company accounts for 1.5% of Mccarter Private Wealth Services LLC’s holdings, making the stock its 24th largest position. Mccarter Private Wealth Services LLC’s holdings in Deere & Company were worth $2,314,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after purchasing an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the last quarter. Northern Trust Corp grew its stake in shares of Deere & Company by 12.8% in the fourth quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company’s stock worth $1,235,394,000 after purchasing an additional 330,915 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Deere & Company by 2.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company’s stock worth $754,500,000 after purchasing an additional 48,941 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup cut their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. Robert W. Baird dropped their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. BMO Capital Markets reiterated a “market perform” rating and set a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Finally, Truist Financial dropped their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $523.87.

Deere & Company Stock Down 1.3%

Deere & Company stock opened at $486.3440 on Friday. Deere & Company has a 1-year low of $373.55 and a 1-year high of $533.78. The firm has a market capitalization of $131.72 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 3.15 and a beta of 1.06. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a 50 day simple moving average of $508.86 and a 200 day simple moving average of $490.28.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the firm posted $6.29 EPS. The firm’s revenue was down 9.0% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were given a dividend of $1.62 per share. The ex-dividend date was Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company’s payout ratio is currently 33.87%.

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.