Deere & Company (NYSE:DE) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in Deere & Company (NYSE:DE - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,663 shares of the industrial products company's stock after buying an additional 650 shares during the period. State of Alaska Department of Revenue's holdings in Deere & Company were worth $13,922,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DE. Brighton Jones LLC boosted its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 1,278 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of Deere & Company by 9.7% in the 4th quarter. Principal Securities Inc. now owns 4,329 shares of the industrial products company's stock valued at $1,834,000 after buying an additional 381 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Deere & Company by 16.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 783 shares of the industrial products company's stock valued at $332,000 after buying an additional 110 shares in the last quarter. Csenge Advisory Group boosted its holdings in shares of Deere & Company by 5.4% in the 4th quarter. Csenge Advisory Group now owns 2,580 shares of the industrial products company's stock valued at $1,093,000 after buying an additional 132 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its holdings in shares of Deere & Company by 1.8% in the 4th quarter. Valmark Advisers Inc. now owns 2,642 shares of the industrial products company's stock valued at $1,120,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Down 0.3%

Shares of Deere & Company stock opened at $523.08 on Wednesday. The company has a market cap of $141.67 billion, a P/E ratio of 25.31, a PEG ratio of 3.33 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The firm has a fifty day moving average of $490.87 and a two-hundred day moving average of $469.33.

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 for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the prior year, the company posted $8.53 EPS. The business's revenue for the quarter was down 17.9% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.24%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Analysts Set New Price Targets

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $515.19.

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.

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