Deere & Company (NYSE:DE) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in Deere & Company (NYSE:DE - Free Report) by 225.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,841 shares of the industrial products company's stock after acquiring an additional 34,510 shares during the period. Teacher Retirement System of Texas' holdings in Deere & Company were worth $23,393,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Orion Capital Management LLC acquired a new position in Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new stake in Deere & Company in the fourth quarter worth approximately $39,000. Citizens National Bank Trust Department acquired a new position in Deere & Company in the first quarter valued at approximately $45,000. Dogwood Wealth Management LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $42,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

DE has been the subject of several recent research reports. DA Davidson restated a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Evercore ISI lifted their price target on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Finally, Bank of America upped their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $515.19.

Deere & Company Trading Down 0.5%

NYSE DE traded down $2.82 on Friday, hitting $517.50. 470,313 shares of the stock were exchanged, compared to its average volume of 1,356,450. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The firm has a market capitalization of $140.15 billion, a P/E ratio of 25.04, a P/E/G ratio of 3.31 and a beta of 1.08. The stock has a fifty day moving average price of $506.47 and a two-hundred day moving average price of $475.24.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.25%. Deere & Company's dividend payout ratio is presently 31.35%.

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.