829 Deere & Company $DE Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in Deere & Company (NYSE:DE) by 3.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,784 shares of the industrial products company’s stock after selling 829 shares during the period. State of Alaska Department of Revenue’s holdings in Deere & Company were worth $15,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Deere & Company during the 2nd quarter worth $11,763,504,000. Wellington Management Group LLP grew its position in shares of Deere & Company by 84.3% in the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after purchasing an additional 1,412,694 shares during the last quarter. Bank of America Corp DE increased its position in Deere & Company by 0.3% during the first quarter. Bank of America Corp DE now owns 2,782,402 shares of the industrial products company’s stock worth $1,567,327,000 after buying an additional 7,918 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Deere & Company during the 2nd quarter worth about $1,259,279,000. Finally, Legal & General Group Plc purchased a new stake in shares of Deere & Company during the second quarter worth about $957,456,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $3.04 on Thursday, reaching $653.42. 564,755 shares of the company’s stock were exchanged, compared to its average volume of 1,363,031. The firm has a market capitalization of $176.18 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 2.38 and a beta of 0.86. Deere & Company has a fifty-two week low of $445.55 and a fifty-two week high of $721.22. The business’s 50-day moving average is $656.93 and its two-hundred day moving average is $611.03. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same period in the previous year, the business posted $4.75 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio is 36.00%.

Analysts Set New Price Targets

DE has been the subject of a number of recent analyst reports. Seaport Research Partners set a $570.00 price objective on Deere & Company in a research report on Friday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $585.00 to $625.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday, August 24th. CICC Research assumed coverage on shares of Deere & Company in a research note on Sunday, September 13th. They issued an “outperform” rating for the company. Finally, Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and increased their price target for the company from $640.00 to $800.00 in a report on Monday, August 31st. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.