Deere & Company $DE Shares Acquired by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas increased its stake in Deere & Company by 12.2% in Q4, buying 5,022 shares to hold 46,204 shares valued at $21.51 million, while institutional investors own 68.58% of DE.
• Analysts' consensus is a Moderate Buy with a $655.45 price target (16 Buy, 9 Hold), and multiple firms including JPMorgan, Bank of America, Truist and Raymond James recently raised price targets or ratings.
• Deere beat quarterly expectations with EPS of $2.42 (vs. $1.90 est.) and revenue of $9.61B (vs. $7.50B est., +17.5% YoY) and announced a quarterly dividend of $1.62 ($6.48 annualized, ~1.2% yield).

Teacher Retirement System of Texas boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 12.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,204 shares of the industrial products company's stock after purchasing an additional 5,022 shares during the quarter. Teacher Retirement System of Texas' holdings in Deere & Company were worth $21,511,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Csenge Advisory Group boosted its position in Deere & Company by 84.9% during the 3rd quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company's stock worth $3,402,000 after acquiring an additional 3,416 shares during the period. Compagnie Lombard Odier SCmA boosted its position in Deere & Company by 66.1% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company's stock worth $12,606,000 after acquiring an additional 10,974 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in Deere & Company by 263.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company's stock worth $7,942,000 after acquiring an additional 12,551 shares during the period. Public Sector Pension Investment Board boosted its position in Deere & Company by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company's stock worth $9,682,000 after acquiring an additional 2,702 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in Deere & Company by 2.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 110,328 shares of the industrial products company's stock worth $50,449,000 after acquiring an additional 2,373 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $525.00 to $550.00 and gave the stock a "neutral" rating in a research note on Friday, April 10th. Bank of America boosted their price objective on Deere & Company from $502.00 to $672.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. Truist Financial boosted their price objective on Deere & Company from $612.00 to $793.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $765.00 price objective on shares of Deere & Company in a research note on Monday, February 23rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $655.45.

Deere & Company Stock Down 5.0%

DE opened at $562.54 on Friday. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The stock's fifty day moving average is $593.61 and its 200-day moving average is $525.65. The company has a market capitalization of $151.95 billion, a PE ratio of 31.71, a P/E/G ratio of 2.07 and a beta of 0.98.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter in the previous year, the business earned $3.19 EPS. The company's quarterly revenue was up 17.5% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post 18.01 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.2%. Deere & Company's payout ratio is 36.53%.

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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