New Mexico Educational Retirement Board Increases Stake in Deere & Company $DE

New Mexico Educational Retirement Board boosted its holdings in shares of Deere & Company (NYSE:DE) by 9.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,602 shares of the industrial products company’s stock after buying an additional 1,100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Deere & Company were worth $7,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Anchyra Partners LLC grew its stake in shares of Deere & Company by 0.5% in the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after acquiring an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. raised its stake in shares of Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after acquiring an additional 17 shares in the last quarter. Advisortrust Partners LLC raised its stake in shares of Deere & Company by 2.0% in the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its holdings in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.3%

NYSE:DE opened at $630.66 on Friday. The stock has a 50-day simple moving average of $611.59 and a 200-day simple moving average of $593.34. The stock has a market cap of $170.24 billion, a P/E ratio of 35.04, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $4.75 EPS. As a group, analysts anticipate that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is presently 36.00%.

Analyst Ratings Changes

Several research firms recently commented on DE. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday, August 18th. Truist Financial decreased their price objective on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research note on Monday. Citigroup boosted their price objective on Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Raymond James Financial reduced their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $653.48.

Deere & Company Profile

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.