State of Alaska Department of Revenue Decreases Holdings in Deere & Company $DE

Key Points

• The State of Alaska Department of Revenue has reduced its stake in Deere & Company by 4.3%, owning 28,383 shares valued at $14.43 million after selling 1,280 shares.
• Deere & Company reported $4.75 EPS for the quarter, outperforming the consensus estimate by $0.13, although revenue was down 9% year-over-year.
• The company has announced a quarterly dividend of $1.62 per share, with a payout ratio of 33.87% and an annualized yield of 1.4%.

State of Alaska Department of Revenue lessened its stake in shares of Deere & Company (NYSE:DE - Free Report) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,383 shares of the industrial products company's stock after selling 1,280 shares during the period. State of Alaska Department of Revenue's holdings in Deere & Company were worth $14,432,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DE. Southland Equity Partners LLC lifted its holdings in shares of Deere & Company by 3.9% in the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company's stock worth $271,000 after acquiring an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after purchasing an additional 21 shares during the last quarter. Tyler Stone Wealth Management boosted its position in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after buying an additional 21 shares during the period. McLean Asset Management Corp boosted its position in shares of Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company's stock valued at $283,000 after buying an additional 21 shares during the period. Finally, Sunbelt Securities Inc. grew its stake in shares of 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 buying an additional 22 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research analyst reports. Truist Financial decreased their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday. DA Davidson reduced their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Finally, Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $518.06.

Deere & Company Stock Down 0.6%

NYSE:DE opened at $463.93 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a 50-day moving average of $489.67 and a 200 day moving average of $489.66. The firm has a market cap of $125.41 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 3.00 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the business posted $6.29 EPS. The company's quarterly revenue was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company's dividend payout ratio is currently 33.87%.

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.

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