New Mexico Educational Retirement Board Buys 1,100 Shares of Deere & Company $DE

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

A number of other large investors have also recently added to or reduced their stakes in DE. Cary Street Partners Financial LLC grew its holdings in shares of Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Baxter Bros Inc. purchased a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $1,707,000. Global Retirement Partners LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $3,890,000. Westpac Banking Corp raised its position in shares of Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after buying an additional 3,047 shares during the period. Finally, TRB Wealth Management LLC purchased a new stake in shares of Deere & Company during the 2nd quarter valued at approximately $623,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3%

Deere & Company stock opened at $630.66 on Friday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week 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. The firm has a 50 day moving average price of $611.59 and a 200 day moving average price of $593.34. The company has a market capitalization of $170.24 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the prior year, the firm earned $4.75 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. Research analysts expect that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DE shares. JPMorgan Chase & Co. increased their price objective on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday, August 18th. UBS Group lowered their price target on Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a report on Friday, August 21st. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Oppenheimer boosted their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $653.48.

About Deere & Company

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.