Deere & Company $DE Position Cut by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in Deere & Company (NYSE:DE) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 58,478 shares of the industrial products company’s stock after selling 2,005 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Deere & Company were worth $27,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Advocates LLC bought a new position in Deere & Company in the 3rd quarter worth approximately $25,000. Key Capital Management INC bought a new position in Deere & Company in the 4th quarter worth approximately $27,000. McIlrath & Eck LLC bought a new position in Deere & Company in the 4th quarter worth approximately $30,000. Wealth Watch Advisors INC bought a new position in Deere & Company in the 3rd quarter worth approximately $32,000. Finally, Tucker Asset Management LLC bought a new position in Deere & Company in the 4th quarter worth approximately $34,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DE. UBS Group increased their price objective on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Barclays upped their target price on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Raymond James Financial cut their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Morgan Stanley upped their target price on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Argus upped their target price on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $638.08.

Deere & Company Stock Performance

DE opened at $542.34 on Monday. The company has a market capitalization of $146.40 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The business has a 50 day moving average price of $572.29 and a two-hundred day moving average price of $542.55.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.64 earnings per share. Research analysts predict that Deere & Company will post 18.08 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Deere & Company Company Profile

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.