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

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Grant Street Asset Management Inc. boosted its position in shares of Deere & Company by 30.2% during the second quarter. Grant Street Asset Management Inc. now owns 569 shares of the industrial products company’s stock valued at $290,000 after buying an additional 132 shares during the last quarter. Assetmark Inc. lifted its stake in Deere & Company by 10.8% during the 2nd quarter. Assetmark Inc. now owns 33,049 shares of the industrial products company’s stock valued at $16,805,000 after acquiring an additional 3,218 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in Deere & Company by 4.9% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 3,212 shares of the industrial products company’s stock worth $1,633,000 after acquiring an additional 151 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Deere & Company by 23.9% in the 2nd quarter. Arkadios Wealth Advisors now owns 9,408 shares of the industrial products company’s stock worth $4,784,000 after acquiring an additional 1,817 shares in the last quarter. Finally, World Investment Advisors grew its stake in shares of Deere & Company by 40.1% in the 2nd quarter. World Investment Advisors now owns 1,933 shares of the industrial products company’s stock worth $983,000 after acquiring an additional 553 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Jefferies Financial Group dropped their target price on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Wolfe Research cut their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. DA Davidson decreased their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Finally, Daiwa Capital Markets dropped their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Stock Down 1.6%

Shares of NYSE DE opened at $465.99 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a market capitalization of $125.97 billion, a PE ratio of 24.36, a P/E/G ratio of 3.05 and a beta of 1.02. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The business’s fifty day moving average price is $468.41 and its 200-day moving average price is $489.53.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.29 EPS. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

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.