State of Alaska Department of Revenue Lowers Holdings in Deere & Company (NYSE:DE)

State of Alaska Department of Revenue decreased its holdings in Deere & Company (NYSE:DE) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,013 shares of the industrial products company’s stock after selling 775 shares during the quarter. State of Alaska Department of Revenue’s holdings in Deere & Company were worth $12,292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Livelsberger Financial Advisory acquired a new stake in Deere & Company in the third quarter valued at approximately $32,000. Modus Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $32,000. YANKCOM Partnership acquired a new stake in Deere & Company in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. Oppenheimer raised their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Barclays raised their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. Finally, Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $444.50.

Deere & Company Price Performance

Shares of DE opened at $464.69 on Friday. The firm has a market capitalization of $126.56 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The stock’s fifty day moving average is $445.03 and its 200-day moving average is $411.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period last year, the company earned $8.26 earnings per share. Equities analysts anticipate that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.39%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

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.