New Mexico Educational Retirement Board Has $5.17 Million Holdings in Deere & Company (NYSE:DE)

New Mexico Educational Retirement Board reduced its stake in shares of Deere & Company (NYSE:DE) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,202 shares of the industrial products company’s stock after selling 500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Deere & Company were worth $5,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quadrant Private Wealth Management LLC increased its holdings in Deere & Company by 11.8% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 1,014 shares of the industrial products company’s stock valued at $431,000 after buying an additional 107 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares during the last quarter. Asset Planning Inc bought a new stake in shares of Deere & Company in the 4th quarter worth about $51,000. Banque Pictet & Cie SA grew its holdings in shares of Deere & Company by 2.0% in the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after purchasing an additional 1,500 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of Deere & Company by 1.2% in the 4th quarter. V Square Quantitative Management LLC now owns 4,914 shares of the industrial products company’s stock worth $2,082,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 3.0 %

Shares of Deere & Company stock opened at $480.17 on Friday. The stock has a fifty day simple moving average of $446.23 and a 200 day simple moving average of $415.49. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The company has a market capitalization of $130.77 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. On average, sell-side analysts anticipate that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DE shares. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Truist Financial restated a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday. Morgan Stanley upped their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, 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 report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $448.72.

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.