Carnegie Investment Counsel Has $9.49 Million Stock Holdings in Deere & Company (NYSE:DE)

Carnegie Investment Counsel decreased its position in Deere & Company (NYSE:DE) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,407 shares of the industrial products company’s stock after selling 241 shares during the period. Carnegie Investment Counsel’s holdings in Deere & Company were worth $9,494,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC increased its holdings in Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after buying an additional 31,459 shares during the period. FMR LLC raised 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 buying an additional 988,380 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Deere & Company by 2.7% during the 2nd 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. Finally, Fisher Asset Management LLC boosted its position in shares of Deere & Company by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after acquiring an additional 158,732 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Oppenheimer increased their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Finally, Barclays lifted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Up 2.4 %

NYSE:DE opened at $439.29 on Friday. The company has a market cap of $119.30 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 1.74 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock’s fifty day moving average price is $429.66 and its two-hundred day moving average price is $401.06. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly 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 $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 earnings per share. On average, analysts anticipate that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.48%. Deere & Company’s payout ratio is currently 25.31%.

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.