Louisiana State Employees Retirement System Has $5.81 Million Stock Position in Deere & Company (NYSE:DE)

Louisiana State Employees Retirement System cut its holdings in shares of Deere & Company (NYSE:DE) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,700 shares of the industrial products company’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Deere & Company were worth $5,805,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DE. Pineridge Advisors LLC grew its stake in 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 in the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at about $32,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. YANKCOM Partnership bought a new stake in shares of Deere & Company in the 4th quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC acquired a new position in Deere & Company in the fourth quarter worth approximately $35,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group downgraded 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. Citigroup decreased their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial increased their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $446.17.

Deere & Company Stock Up 0.5 %

NYSE DE opened at $476.53 on Thursday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $485.84. The stock has a market cap of $129.78 billion, a PE ratio of 18.61, a PEG ratio of 2.87 and a beta of 0.98. The firm has a 50-day simple moving average of $445.46 and a 200 day simple moving average of $414.70. 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, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter last year, the firm earned $8.26 EPS. On average, research analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 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.