Deere & Company (NYSE:DE) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its position in Deere & Company (NYSE:DE) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,202 shares of the industrial products company’s stock after selling 500 shares during the period. New Mexico Educational Retirement Board’s holdings in Deere & Company were worth $5,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter valued at about $32,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $34,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $480.17 on Friday. The company’s 50 day moving average price is $446.23 and its 200 day moving average price is $415.49. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The company 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. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

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

Deere & Company Increases Dividend

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

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Oppenheimer lifted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial restated a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $448.72.

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.