Deere & Company (NYSE:DE) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in Deere & Company (NYSE:DE) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,604 shares of the industrial products company’s stock after selling 1,376 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Deere & Company were worth $40,507,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Robertson Stephens Wealth Management LLC increased its position in shares of Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares during the last quarter. DLK Investment Management LLC increased its position in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after purchasing an additional 24 shares during the last quarter. Quent Capital LLC increased its position in shares of Deere & Company by 2.8% during the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 24 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares during the last quarter. Finally, Mattern Wealth Management LLC increased its position in shares of Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Truist Financial restated a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday. Finally, Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus price target of $450.12.

Deere & Company Stock Performance

Shares of DE opened at $480.17 on Monday. The stock has a 50-day simple moving average of $446.95 and a 200-day simple moving average of $416.52. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a market capitalization of $130.77 billion, a PE ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.98. Deere & Company has a 1 year low of $340.20 and a 1 year high of $485.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. On average, analysts predict that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is presently 25.31%.

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.