State of Alaska Department of Revenue Sells 1,930 Shares of Deere & Company $DE

Key Points

• State of Alaska Department of Revenue reduced its stake in Deere & Company by 7.2%, selling 1,930 shares and leaving it with 25,049 shares valued at about $11.66 million per the latest 13F filing.
• Deere posted a strong quarter, beating estimates with $2.42 EPS versus $1.90 expected and revenue of $9.61 billion (vs. $7.50B), up 17.5% year‑over‑year.
• The company declared a quarterly dividend of $1.62 per share (annualized $6.48, ~1.1% yield), and analysts have raised targets leaving the consensus rating at a “Moderate Buy” with an average target near $655.

State of Alaska Department of Revenue lowered its position in Deere & Company (NYSE:DE - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,049 shares of the industrial products company's stock after selling 1,930 shares during the period. State of Alaska Department of Revenue's holdings in Deere & Company were worth $11,662,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DE. Strategic Advocates LLC bought a new position in Deere & Company in the third quarter worth approximately $25,000. Activest Wealth Management boosted its holdings in Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock worth $30,000 after acquiring an additional 27 shares in the last quarter. Wealth Watch Advisors INC bought a new position in Deere & Company in the third quarter worth approximately $32,000. United Community Bank boosted its holdings in Deere & Company by 67.3% in the third quarter. United Community Bank now owns 92 shares of the industrial products company's stock worth $42,000 after acquiring an additional 37 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its holdings in Deere & Company by 56.7% in the fourth quarter. GoalVest Advisory LLC now owns 94 shares of the industrial products company's stock worth $44,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of DE opened at $603.27 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $162.95 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.11 and a beta of 0.98. The stock has a 50 day moving average of $593.39 and a 200 day moving average of $518.64. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.Deere & Company's revenue was up 17.5% on a year-over-year basis. During the same period last year, the business posted $3.19 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 36.53%.

Analyst Upgrades and Downgrades

DE has been the topic of several recent research reports. Wells Fargo & Company increased their price target on Deere & Company from $543.00 to $750.00 and gave the stock an "overweight" rating in a report on Friday, February 20th. Argus raised their target price on Deere & Company from $540.00 to $700.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Jefferies Financial Group upgraded Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 target price on the stock in a report on Wednesday, April 8th. Oppenheimer restated an "outperform" rating and issued a $715.00 target price on shares of Deere & Company in a report on Friday, February 20th. Finally, Bank of America raised their target price on Deere & Company from $502.00 to $672.00 and gave the company a "neutral" rating in a report on Friday, February 20th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of "Moderate Buy" and an average target price of $655.45.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the sale, the insider directly owned 20,792 shares of the company's stock, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company's stock.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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