Allstate Corp Has $392,000 Holdings in Deere & Company (NYSE:DE)

Allstate Corp lessened its holdings in Deere & Company (NYSE:DE) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 981 shares of the industrial products company’s stock after selling 71 shares during the period. Allstate Corp’s holdings in Deere & Company were worth $392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new stake in Deere & Company in the 3rd quarter worth about $25,000. ZRC Wealth Management LLC bought a new stake in Deere & Company in the 4th quarter worth about $28,000. Rakuten Securities Inc. bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Evercore ISI increased their target price on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Morgan Stanley increased their target price on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Finally, Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $432.92.

Deere & Company Trading Down 1.2 %

Shares of NYSE DE traded down $4.54 during midday trading on Thursday, hitting $381.47. 955,963 shares of the company traded hands, compared to its average volume of 1,466,902. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock has a 50-day moving average price of $399.95 and a 200 day moving average price of $386.47. The firm has a market cap of $106.19 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.53 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the previous year, the firm posted $9.65 earnings per share. Deere & Company’s quarterly revenue was down 15.4% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 26.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Friday, March 29th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.54%. The ex-dividend date was Wednesday, March 27th. Deere & Company’s payout ratio is currently 17.70%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.