Deere & Company $DE Shares Sold by South Dakota Investment Council

Key Points

• South Dakota Investment Council reduced its Deere & Company stake by 11% in the first quarter, selling 3,239 shares and retaining 26,101 shares valued at approximately $14.7 million.
• Deere reported quarterly earnings of $6.55 per share on $13.37 billion in revenue, beating analyst expectations, while revenue rose 5.4% year over year.
• The company declared a quarterly dividend of $1.62 per share, equivalent to $6.48 annually and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $642.98.

South Dakota Investment Council lowered its stake in Deere & Company (NYSE:DE - Free Report) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,101 shares of the industrial products company's stock after selling 3,239 shares during the period. South Dakota Investment Council's holdings in Deere & Company were worth $14,703,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of DE. IFS Group LLC acquired a new stake in Deere & Company during the 1st quarter valued at $315,000. Claris Financial LLC acquired a new stake in shares of Deere & Company during the first quarter worth approximately $233,000. Amundi boosted its holdings in shares of Deere & Company by 18.2% during the first quarter. Amundi now owns 970,693 shares of the industrial products company's stock worth $546,792,000 after purchasing an additional 149,224 shares during the period. EverSource Wealth Advisors LLC grew its position in Deere & Company by 9.7% during the first quarter. EverSource Wealth Advisors LLC now owns 8,882 shares of the industrial products company's stock valued at $5,003,000 after purchasing an additional 784 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Deere & Company by 9.2% in the 1st quarter. Royal Bank of Canada now owns 1,262,146 shares of the industrial products company's stock valued at $710,969,000 after buying an additional 106,349 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 4.5%

Shares of DE stock opened at $611.20 on Thursday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The business's 50 day moving average is $588.92 and its two-hundred day moving average is $579.78. The company has a market cap of $164.99 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89.

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, topping analysts' consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analysts' expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $6.64 earnings per share. Equities analysts predict that Deere & Company will post 18.28 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is 36.71%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Bank of America dropped their price target on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $752.00 price target on shares of Deere & Company in a research note on Monday, June 1st. JPMorgan Chase & Co. lifted their price target on Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. DA Davidson reissued a "buy" rating and issued a $685.00 price target on shares of Deere & Company in a research note on Friday, July 17th. Finally, Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $642.98.

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.

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