Arizona State Retirement System Acquires 332 Shares of Deere & Company (NYSE:DE)

Arizona State Retirement System raised its holdings in Deere & Company (NYSE:DE) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,663 shares of the industrial products company’s stock after purchasing an additional 332 shares during the quarter. Arizona State Retirement System’s holdings in Deere & Company were worth $28,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC increased its position in Deere & Company by 15.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $841,000 after acquiring an additional 288 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of Deere & Company by 5.4% during the fourth quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 102 shares during the last quarter. 9258 Wealth Management LLC increased its holdings in shares of Deere & Company by 9.8% in the fourth quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock valued at $790,000 after purchasing an additional 176 shares in the last quarter. Gryphon Financial Partners LLC raised its position in Deere & Company by 62.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock worth $551,000 after purchasing an additional 552 shares during the last quarter. Finally, Wealthspire Advisors LLC lifted its holdings in Deere & Company by 25.0% during the 4th quarter. Wealthspire Advisors LLC now owns 1,994 shares of the industrial products company’s stock worth $797,000 after buying an additional 399 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on DE shares. Morgan Stanley dropped their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. JPMorgan Chase & Co. dropped their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. DA Davidson decreased their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Finally, Citigroup cut their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $414.11.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Deere & Company Stock Performance

DE opened at $383.69 on Friday. The company has a market capitalization of $105.73 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.28 and a beta of 0.93. The business’s 50-day moving average price is $368.87 and its two-hundred day moving average price is $380.21. Deere & Company has a 1 year low of $340.20 and a 1 year high of $417.46. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the firm earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.