New Mexico Educational Retirement Board reduced its position in Deere & Company (NYSE:DE) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,852 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 $4,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of DE. Moloney Securities Asset Management LLC raised its position in Deere & Company by 9.1% during the fourth quarter. Moloney Securities Asset Management LLC now owns 2,072 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 172 shares during the period. Royal London Asset Management Ltd. acquired a new position in Deere & Company during the fourth quarter worth $42,481,000. WP Advisors LLC acquired a new position in Deere & Company during the first quarter worth $70,000. Private Trust Co. NA raised its position in Deere & Company by 6.5% during the first quarter. Private Trust Co. NA now owns 2,580 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 158 shares during the period. Finally, Roundview Capital LLC acquired a new position in Deere & Company during the fourth quarter worth $254,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.
Shares of DE opened at $164.56 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.98 and a debt-to-equity ratio of 2.46. Deere & Company has a 12-month low of $128.32 and a 12-month high of $167.82. The stock has a market capitalization of $52.41 billion, a P/E ratio of 17.53, a PEG ratio of 1.71 and a beta of 0.90.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, March 29th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, March 28th. Deere & Company’s dividend payout ratio is currently 32.37%.
In related news, insider John C. May II sold 11,661 shares of the company’s stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $160.21, for a total value of $1,868,208.81. Following the completion of the sale, the insider now owns 55,743 shares of the company’s stock, valued at $8,930,586.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.71% of the company’s stock.
A number of equities analysts have weighed in on the stock. Bank of America cut shares of Deere & Company from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $173.00 to $170.00 in a research report on Wednesday, February 13th. OTR Global upgraded shares of Deere & Company to a “positive” rating in a research report on Friday, January 18th. Zacks Investment Research cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Credit Suisse Group reduced their price objective on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating for the company in a research report on Tuesday, February 19th. Finally, Citigroup reduced their price objective on shares of Deere & Company from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, February 19th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $176.73.
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Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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