Public Employees Retirement System of Ohio Has $50.68 Million Stock Holdings in Deere & Company $DE

Key Points

• Public Employees Retirement System of Ohio reduced its stake in Deere & Company by 2.8%, holding 99,657 shares valued at approximately $50.68 million as of the latest filing.
• Deere & Company recently reported quarterly earnings of $4.75 EPS, exceeding analyst estimates and demonstrating a decrease in year-over-year revenue by 9%.
• The company has announced a quarterly dividend of $1.62 per share, with a projected annualized yield of 1.4% for shareholders of record by September 30.

Public Employees Retirement System of Ohio lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 2.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 99,657 shares of the industrial products company's stock after selling 2,876 shares during the period. Public Employees Retirement System of Ohio's holdings in Deere & Company were worth $50,675,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Southland Equity Partners LLC grew its holdings in Deere & Company by 3.9% during the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company's stock worth $271,000 after acquiring an additional 20 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after purchasing an additional 21 shares in the last quarter. Tyler Stone Wealth Management boosted its position in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after purchasing an additional 21 shares in the last quarter. McLean Asset Management Corp boosted its position in shares of Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company's stock worth $283,000 after purchasing an additional 21 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DE shares. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research report on Tuesday, August 19th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Citigroup reduced their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, Oppenheimer reduced their price target on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $517.27.

Deere & Company Stock Up 0.5%

Deere & Company stock opened at $471.57 on Wednesday. The firm has a market capitalization of $127.48 billion, a PE ratio of 24.65, a P/E/G ratio of 3.02 and a beta of 1.00. The company's 50-day moving average is $491.82 and its 200-day moving average is $490.03. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the business earned $6.29 EPS. Deere & Company's quarterly revenue was down 9.0% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio is presently 33.87%.

About Deere & Company

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.

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