State of Wisconsin Investment Board Has $61.92 Million Stock Position in Deere & Company $DE

State of Wisconsin Investment Board lowered its holdings in shares of Deere & Company (NYSE:DE) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,993 shares of the industrial products company’s stock after selling 2,315 shares during the period. State of Wisconsin Investment Board’s holdings in Deere & Company were worth $61,918,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in DE. Strategic Advocates LLC acquired a new stake in Deere & Company in the third quarter valued at approximately $25,000. Key Capital Management INC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $27,000. Timmons Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in Deere & Company in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. DA Davidson reduced their price objective on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Wolfe Research raised their price objective on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Barclays raised their price objective on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Finally, Citigroup reduced their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Stock Up 1.9%

Shares of NYSE:DE opened at $586.43 on Wednesday. The stock has a market cap of $158.30 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.13 and a beta of 0.92. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The business’s 50 day moving average is $573.50 and its 200 day moving average is $550.68.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.64 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is presently 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.