Deere & Company $DE Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its Deere & Company stake by 3.3% in the fourth quarter, selling 2,005 shares and leaving it with 58,478 shares worth about $27.2 million.
• Deere beat fiscal results in its latest earnings report, posting $6.55 EPS and $13.37 billion in revenue, both above Wall Street estimates, while revenue rose 5.4% from a year earlier.
• Analysts remain cautiously positive on the stock, with a consensus rating of Moderate Buy and an average price target of $638.08; Deere also declared a quarterly dividend of $1.62 per share.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in Deere & Company (NYSE:DE - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. 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 SEC.

Several other institutional investors have also modified their holdings of DE. Cerro Pacific Wealth Advisors LLC raised its stake in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after buying an additional 19 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in Deere & Company by 2.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company's stock valued at $360,000 after buying an additional 20 shares in the last quarter. Family Legacy Inc. raised its stake in Deere & Company by 0.3% during the fourth quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company's stock valued at $3,675,000 after buying an additional 20 shares in the last quarter. Evoke Wealth LLC raised its stake in Deere & Company by 2.5% during the fourth quarter. Evoke Wealth LLC now owns 830 shares of the industrial products company's stock valued at $388,000 after buying an additional 20 shares in the last quarter. Finally, Eukles Asset Management raised its stake in Deere & Company by 0.7% during the fourth quarter. Eukles Asset Management now owns 2,837 shares of the industrial products company's stock valued at $1,321,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Deere & Company from $550.00 to $560.00 and gave the company a "neutral" rating in a research note on Friday, May 22nd. Bank of America cut their price objective 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. Robert W. Baird cut their price objective on Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Wolfe Research upped 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. Finally, Jefferies Financial Group upgraded Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective on the stock in a research note on Wednesday, April 8th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of "Moderate Buy" and an average price target of $638.08.

Deere & Company Stock Up 0.0%

NYSE:DE opened at $542.34 on Monday. The firm has a market capitalization of $146.40 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. The stock has a 50 day moving average of $572.29 and a 200-day moving average of $542.55. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued 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 1.2%. Deere & Company's dividend payout ratio is 36.71%.

Deere & 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.

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