Retirement Systems of Alabama Has $25.55 Million Stake in Deere & Company (NYSE:DE)

Retirement Systems of Alabama lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,428 shares of the industrial products company's stock after selling 661 shares during the period. Retirement Systems of Alabama's holdings in Deere & Company were worth $25,546,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DE. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company in the 4th quarter valued at about $39,000. Dogwood Wealth Management LLC bought a new position in Deere & Company in the 4th quarter valued at about $42,000. Wood Tarver Financial Group LLC acquired a new position in Deere & Company during the 4th quarter valued at about $43,000. Finally, Marquette Asset Management LLC bought a new stake in shares of Deere & Company during the 1st quarter worth about $49,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Down 0.8%

DE traded down $4.32 during trading on Friday, reaching $520.66. The company had a trading volume of 1,387,433 shares, compared to its average volume of 1,386,710. The firm's 50-day simple moving average is $495.13 and its 200 day simple moving average is $470.66. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company has a market cap of $141.01 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 3.31 and a beta of 1.09. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78.

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

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Oppenheimer boosted their target price on Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Evercore ISI lifted their price target on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, twelve have issued 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.com, Deere & Company currently has an average rating of "Hold" and a consensus price target of $515.19.

About Deere & Company

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.