Retirement Systems of Alabama Sells 265 Shares of Deere & Company $DE

Retirement Systems of Alabama trimmed its stake in shares of Deere & Company (NYSE:DE) by 0.5% during the second quarter, HoldingsChannel.com reports. The firm owned 54,163 shares of the industrial products company’s stock after selling 265 shares during the quarter. Retirement Systems of Alabama’s holdings in Deere & Company were worth $27,541,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Deere & Company during the second quarter valued at about $25,000. Activest Wealth Management boosted its position in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC purchased a new position in Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC increased its holdings in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares during the period. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $465.99 on Friday. The company has a market capitalization of $125.97 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 3.05 and a beta of 1.02. The business has a 50 day moving average of $468.41 and a 200 day moving average of $489.53. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period last year, the business earned $6.29 earnings per share. On average, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DE shares. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Jefferies Financial Group reduced their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Citigroup decreased their target price on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Wolfe Research lowered their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $518.72.

Deere & 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.