Retirement Systems of Alabama lowered its stake in shares of Deere & Co. (NYSE:DE) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,202 shares of the company’s stock after selling 684 shares during the period. Retirement Systems of Alabama’s holdings in Deere & Co. were worth $12,334,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Washington Trust Bank raised its position in Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock valued at $100,000 after buying an additional 460 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Deere & Co. during the first quarter worth $142,000. Iowa State Bank purchased a new position in shares of Deere & Co. during the second quarter worth $151,000. First National Bank & Trust Co. of Newtown purchased a new position in shares of Deere & Co. during the second quarter worth $202,000. Finally, Handelsbanken Fonder AB purchased a new position in shares of Deere & Co. during the second quarter worth $203,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
Shares of Deere & Co. (NYSE:DE) traded down 0.76% during mid-day trading on Tuesday, hitting $84.70. 2,126,319 shares of the stock traded hands. The company has a market cap of $26.63 billion, a P/E ratio of 16.97 and a beta of 0.89. The firm has a 50 day moving average of $83.71 and a 200 day moving average of $81.86. Deere & Co. has a 12 month low of $70.16 and a 12 month high of $88.63.
Deere & Co. (NYSE:DE) last released its quarterly earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $0.94 by $0.61. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The firm earned $6.72 billion during the quarter. During the same quarter last year, the company earned $1.53 EPS. The firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. Equities analysts anticipate that Deere & Co. will post $4.30 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, September 30th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 annualized dividend and a yield of 2.83%. Deere & Co.’s dividend payout ratio (DPR) is 48.10%.
A number of equities analysts recently weighed in on DE shares. Vetr lowered shares of Deere & Co. from a “hold” rating to a “sell” rating and set a $83.39 price objective for the company. in a report on Monday, June 6th. Morgan Stanley restated a “sell” rating on shares of Deere & Co. in a report on Thursday, June 30th. Piper Jaffray Cos. lowered shares of Deere & Co. from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $77.64 to $67.00 in a report on Monday, July 25th. BMO Capital Markets restated an “outperform” rating and issued a $96.00 price objective on shares of Deere & Co. in a report on Thursday, August 18th. Finally, Jefferies Group restated a “hold” rating and issued a $70.00 price objective on shares of Deere & Co. in a report on Friday, August 19th. Eight analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $82.40.
Deere & Co. Company Profile
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Co. (NYSE:DE).
Receive News & Ratings for Deere & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Co. and related companies with MarketBeat.com's FREE daily email newsletter.