New Mexico Educational Retirement Board Purchases 3,400 Shares of Deere & Company (DE)
New Mexico Educational Retirement Board lifted its position in shares of Deere & Company (NYSE:DE) by 12.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 30,752 shares of the industrial products company’s stock after buying an additional 3,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Deere & Company were worth $4,813,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC bought a new position in Deere & Company during the 4th quarter worth $101,000. Cerebellum GP LLC bought a new position in Deere & Company during the 4th quarter worth $132,000. TCI Wealth Advisors Inc. increased its stake in Deere & Company by 107.3% during the 4th quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 458 shares during the period. Wealthcare Advisory Partners LLC bought a new position in Deere & Company during the 3rd quarter worth $144,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in Deere & Company during the 3rd quarter worth $158,000. Institutional investors own 66.84% of the company’s stock.
Shares of Deere & Company (NYSE DE) opened at $159.21 on Tuesday. The firm has a market capitalization of $50,082.22, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 2.32 and a beta of 0.75. Deere & Company has a twelve month low of $106.72 and a twelve month high of $171.96. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, December 29th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Thursday, December 28th. Deere & Company’s dividend payout ratio is presently 36.14%.
In related news, VP Mary K.W. Jones sold 34,136 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $124.72, for a total transaction of $4,257,441.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James M. Field sold 48,427 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $147.98, for a total value of $7,166,227.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,603 shares of company stock worth $28,058,143. Company insiders own 0.74% of the company’s stock.
DE has been the topic of a number of recent research reports. BMO Capital Markets restated a “buy” rating and set a $150.00 price objective on shares of Deere & Company in a research note on Thursday, November 2nd. Wells Fargo & Co restated an “outperform” rating and set a $200.00 price objective (up previously from $170.00) on shares of Deere & Company in a research note on Wednesday, January 10th. ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price objective on the stock in a research note on Wednesday, January 10th. Finally, Credit Suisse Group restated a “buy” rating and set a $162.00 price objective on shares of Deere & Company in a research note on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $154.75.
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Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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