Deere & Company (DE) Shares Sold by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System lowered its position in Deere & Company (NYSE:DE) by 0.6% during the 1st quarter, HoldingsChannel reports. The firm owned 16,800 shares of the industrial products company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Deere & Company were worth $2,685,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in DE. Moloney Securities Asset Management LLC boosted its holdings in shares of Deere & Company by 9.1% during the 4th quarter. Moloney Securities Asset Management LLC now owns 2,072 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 172 shares during the last quarter. Royal London Asset Management Ltd. purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $42,481,000. Private Trust Co. NA increased its position in shares of Deere & Company by 6.5% in the first quarter. Private Trust Co. NA now owns 2,580 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 158 shares in the last quarter. Roundview Capital LLC purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $254,000. Finally, M&T Bank Corp increased its position in shares of Deere & Company by 1.1% in the fourth quarter. M&T Bank Corp now owns 71,472 shares of the industrial products company’s stock worth $10,664,000 after acquiring an additional 745 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors.
DE has been the topic of several analyst reports. Credit Suisse Group reissued a “buy” rating and issued a $211.00 target price on shares of Deere & Company in a research report on Tuesday, January 8th. Argus boosted their target price on shares of Deere & Company from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 9th. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research report on Tuesday, January 15th. OTR Global raised shares of Deere & Company to a “positive” rating in a research report on Friday, January 18th. Finally, Bank of America downgraded shares of Deere & Company from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $173.00 to $170.00 in a research report on Wednesday, February 13th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $176.73.
Shares of Deere & Company stock traded up $0.58 on Monday, reaching $162.04. The stock had a trading volume of 10,961 shares, compared to its average volume of 1,571,793. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $167.82. The stock has a market capitalization of $51.42 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.68 and a beta of 0.90.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Deere & Company’s quarterly revenue was up 16.2% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 11.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, March 28th. Deere & Company’s payout ratio is 32.37%.
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Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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