State of Alaska Department of Revenue Acquires 1,635 Shares of Deere & Company (NYSE:DE)

State of Alaska Department of Revenue raised its holdings in shares of Deere & Company (NYSE:DE) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,788 shares of the industrial products company’s stock after buying an additional 1,635 shares during the period. State of Alaska Department of Revenue’s holdings in Deere & Company were worth $12,431,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DE. Mattern Wealth Management LLC grew its position in shares of Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 25 shares during the period. Carret Asset Management LLC grew its holdings in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares during the period. Centaurus Financial Inc. increased its position in Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after buying an additional 26 shares in the last quarter. Cornell Pochily Investment Advisors Inc. raised its stake in shares of Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after buying an additional 26 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Deere & Company by 1.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock valued at $578,000 after buying an additional 26 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DE shares. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Oppenheimer dropped their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Citigroup boosted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $407.93 on Monday. The firm has a fifty day simple moving average of $397.89 and a two-hundred day simple moving average of $385.17. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $112.41 billion, a P/E ratio of 12.28, a PEG ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the business posted $10.20 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis. On average, analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend 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.