Teachers Retirement System of The State of Kentucky Lowers Stock Position in Deere & Company (NYSE:DE)

Teachers Retirement System of The State of Kentucky cut its holdings in Deere & Company (NYSE:DE) by 10.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,898 shares of the industrial products company’s stock after selling 5,912 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Deere & Company were worth $20,085,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC increased its stake in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Rakuten Securities Inc. bought a new stake in Deere & Company in the 4th quarter worth approximately $28,000. Naples Money Management LLC bought a new stake in Deere & Company in the 4th quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new stake in Deere & Company in the 4th quarter worth approximately $29,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on DE. Truist Financial reduced their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Daiwa Capital Markets lifted their price objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Citigroup began coverage on Deere & Company in a research report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 target price on the stock. TD Cowen boosted their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Finally, Stifel Nicolaus boosted their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $426.71.

Deere & Company Stock Down 1.2 %

Shares of DE stock traded down $4.16 during mid-day trading on Friday, hitting $353.75. The stock had a trading volume of 2,820,703 shares, compared to its average volume of 1,566,937. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The firm has a market capitalization of $97.48 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. Deere & Company has a 12-month low of $345.93 and a 12-month high of $441.46. The firm’s 50-day moving average is $370.86 and its two-hundred day moving average is $382.94.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $9.65 EPS. On average, analysts predict that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) 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.