Deere & Company (NYSE:DE) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of Deere & Company (NYSE:DE) by 2.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 28,258 shares of the industrial products company’s stock after selling 665 shares during the period. State of Alaska Department of Revenue’s holdings in Deere & Company were worth $11,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. AQR Capital Management LLC grew its position in Deere & Company by 46.9% during the 3rd quarter. AQR Capital Management LLC now owns 134,476 shares of the industrial products company’s stock worth $50,749,000 after purchasing an additional 42,906 shares during the period. Glenmede Trust Co. NA grew its position in shares of Deere & Company by 3.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 32,945 shares of the industrial products company’s stock valued at $12,433,000 after acquiring an additional 1,054 shares during the period. Axxcess Wealth Management LLC grew its position in shares of Deere & Company by 273.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 4,343 shares of the industrial products company’s stock valued at $1,639,000 after acquiring an additional 3,180 shares during the period. Alps Advisors Inc. grew its position in shares of Deere & Company by 503.1% during the 3rd quarter. Alps Advisors Inc. now owns 14,312 shares of the industrial products company’s stock valued at $5,401,000 after acquiring an additional 11,939 shares during the period. Finally, Legacy Advisors LLC grew its position in shares of Deere & Company by 566.2% during the 3rd quarter. Legacy Advisors LLC now owns 3,611 shares of the industrial products company’s stock valued at $1,363,000 after acquiring an additional 3,069 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DE shares. Morgan Stanley raised their target price on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Truist Financial lowered their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday. TD Cowen lifted their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a report on Friday, May 17th. Finally, Citigroup started coverage on Deere & Company in a report on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average target price of $427.66.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Deere & Company Stock Down 0.6 %

Shares of NYSE DE opened at $362.75 on Thursday. The firm has a market cap of $99.96 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.47 and a beta of 0.93. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00. The business’s 50 day moving average is $383.89 and its two-hundred day moving average is $386.94.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.65 earnings per share. Research analysts predict that Deere & Company will post 25.59 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.62%. Deere & Company’s payout ratio is currently 17.70%.

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.