Deere & Company $DE Holdings Lowered by Strs Ohio

Key Points

• Strs Ohio reduced its Deere & Company stake by 4.4% in the first quarter, selling 3,227 shares and leaving it with 70,840 shares valued at about $39.9 million.
• Deere reported stronger-than-expected quarterly results, posting earnings of $6.55 per share on revenue of $13.37 billion, both above analyst estimates.
• The company announced a quarterly dividend of $1.62 per share, payable August 10, which annualizes to $6.48 per share for a 1.0% yield.

Strs Ohio lowered its stake in Deere & Company (NYSE:DE - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,840 shares of the industrial products company's stock after selling 3,227 shares during the quarter. Strs Ohio's holdings in Deere & Company were worth $39,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Anchyra Partners LLC raised its holdings in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock valued at $1,797,000 after acquiring an additional 17 shares during the period. William B. Walkup & Associates Inc. boosted its stake in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock worth $1,638,000 after purchasing an additional 17 shares during the period. Cerro Pacific Wealth Advisors LLC grew its position in Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock worth $1,480,000 after purchasing an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock worth $379,000 after purchasing an additional 19 shares in the last quarter. Finally, Root Financial Partners LLC raised its stake in Deere & Company by 2.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company's stock valued at $410,000 after purchasing an additional 19 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $621.09 on Friday. The stock has a market capitalization of $167.66 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.30 and a beta of 0.89. The business has a 50-day moving average of $578.41 and a two-hundred day moving average of $562.69. 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 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion for 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 was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $6.64 EPS. On average, equities research analysts predict that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company's payout ratio is presently 36.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DE shares. DA Davidson reduced their target price on Deere & Company from $775.00 to $685.00 and set a "buy" rating for the company in a report on Friday, May 22nd. Robert W. Baird dropped their price target on Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Bank of America lowered their target price on Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Finally, Oppenheimer reiterated an "outperform" rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and an average target price of $642.23.

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.

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