Arizona State Retirement System Acquires 797 Shares of Deere & Company (NYSE:DE)

Arizona State Retirement System increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 1.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,931 shares of the industrial products company's stock after buying an additional 797 shares during the quarter. Arizona State Retirement System's holdings in Deere & Company were worth $35,638,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its stake in Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 22 shares in the last quarter. First Bancorp Inc ME increased its stake in Deere & Company by 4.7% in the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after buying an additional 23 shares during the period. World Equity Group Inc. grew its holdings in Deere & Company by 4.5% during the 1st quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock worth $244,000 after acquiring an additional 24 shares in the last quarter. Coppell Advisory Solutions LLC boosted its holdings in shares of Deere & Company by 2.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock valued at $432,000 after buying an additional 25 shares in the last quarter. Finally, Glen Eagle Advisors LLC boosted its holdings in shares of Deere & Company by 0.9% in the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock valued at $1,244,000 after buying an additional 25 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DE shares. Raymond James Financial increased their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Morgan Stanley increased their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. BMO Capital Markets reissued a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. UBS Group reduced their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Evercore ISI raised their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $515.50.

Deere & Company Stock Performance

DE traded down $4.43 on Tuesday, hitting $503.18. 1,172,181 shares of the company's stock were exchanged, compared to its average volume of 1,345,846. The firm has a market cap of $136.27 billion, a PE ratio of 24.34, a P/E/G ratio of 3.25 and a beta of 1.08. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The stock has a fifty day moving average of $511.25 and a two-hundred day moving average of $479.24. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.53 earnings per share. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.29%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Deere & Company 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.