Deere & Company (NYSE:DE) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in Deere & Company (NYSE:DE) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,053 shares of the industrial products company’s stock after selling 1,052 shares during the period. Retirement Systems of Alabama’s holdings in Deere & Company were worth $23,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stockbridge Partners LLC boosted its stake in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Toronto Dominion Bank boosted its stake in Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after buying an additional 1,291 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after buying an additional 2,692 shares in the last quarter. Chase Investment Counsel Corp grew its holdings in Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the period. Finally, Balentine LLC acquired a new stake in Deere & Company in the 3rd quarter valued at about $710,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $440.44 on Friday. The business has a fifty day simple moving average of $420.61 and a 200 day simple moving average of $392.67. 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 has a 1 year low of $340.20 and a 1 year high of $469.39. The firm has a market cap of $120.50 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 1.91 and a beta of 0.96.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period last year, the business earned $8.26 EPS. As a group, sell-side analysts predict that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

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

Analyst Upgrades and Downgrades

DE has been the topic of several recent research reports. Citigroup lifted their price objective on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. UBS Group lifted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Truist Financial lifted their target price on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $443.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.