State of Alaska Department of Revenue Decreases Stock Position in Deere & Company $DE

State of Alaska Department of Revenue reduced its position in Deere & Company (NYSE:DE) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,049 shares of the industrial products company’s stock after selling 1,930 shares during the quarter. State of Alaska Department of Revenue’s holdings in Deere & Company were worth $11,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of DE. Strategic Advocates LLC purchased a new stake in Deere & Company in the third quarter worth $25,000. Activest Wealth Management increased its position in Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after buying an additional 27 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in Deere & Company in the third quarter worth $32,000. United Community Bank increased its position in Deere & Company by 67.3% in the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after buying an additional 37 shares during the last quarter. Finally, GoalVest Advisory LLC increased its position in Deere & Company by 56.7% in the fourth quarter. GoalVest Advisory LLC now owns 94 shares of the industrial products company’s stock worth $44,000 after buying an additional 34 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on DE shares. BMO Capital Markets raised their target price on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. raised their target price on Deere & Company from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday. Raymond James Financial reissued an “outperform” rating and issued a $765.00 target price on shares of Deere & Company in a research report on Monday, February 23rd. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, DA Davidson raised their target price on Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $655.45.

Insider Activity

In other news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $603.27 on Tuesday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The business has a 50-day simple moving average of $593.39 and a 200 day simple moving average of $518.64. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The stock has a market cap of $162.95 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.11 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is 36.53%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.