Deere & Company (NYSE:DE) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in Deere & Company (NYSE:DE - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,022 shares of the industrial products company's stock after selling 589 shares during the period. Kentucky Retirement Systems' holdings in Deere & Company were worth $7,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Orion Capital Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company in the 4th quarter worth $39,000. Dogwood Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $42,000. Wood Tarver Financial Group LLC purchased a new stake in Deere & Company during the 4th quarter valued at about $43,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at about $48,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE:DE traded down $4.32 during trading on Friday, reaching $520.66. 1,387,433 shares of the company's stock traded hands, compared to its average volume of 1,386,710. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a 50-day simple moving average of $495.13 and a 200-day simple moving average of $470.82. The firm has a market cap of $141.01 billion, a PE ratio of 25.19, a P/E/G ratio of 3.31 and a beta of 1.09.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.53 earnings per share. As a group, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. Deere & Company's dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DE shares. Morgan Stanley upped their target price on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Evercore ISI increased their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $515.19.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.