Deere & Company $DE Stock Position Reduced by Carnegie Investment Counsel

Carnegie Investment Counsel decreased its position in Deere & Company (NYSE:DE) by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,470 shares of the industrial products company’s stock after selling 1,131 shares during the quarter. Carnegie Investment Counsel’s holdings in Deere & Company were worth $14,347,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DE. Anchyra Partners LLC lifted its stake in Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after purchasing an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. boosted its holdings in Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after purchasing an additional 17 shares during the period. Cerro Pacific Wealth Advisors LLC increased its stake in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC raised its holdings in shares of Deere & Company by 2.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 19 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE stock traded down $5.54 during mid-day trading on Friday, reaching $587.36. The company had a trading volume of 782,098 shares, compared to its average volume of 1,174,307. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $158.55 billion, a P/E ratio of 33.28, a P/E/G ratio of 2.17 and a beta of 0.89. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The stock’s 50-day simple moving average is $581.74 and its two-hundred day simple moving average is $566.99.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.64 earnings per share. Research analysts anticipate that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

Key Stories Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Raymond James Financial reduced their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Robert W. Baird dropped their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. DA Davidson cut their target price on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Finally, Citigroup decreased their target price on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $642.23.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.