Teachers Retirement System of The State of Kentucky decreased its position in Deere & Company (NYSE:DE - Free Report) by 13.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,709 shares of the industrial products company's stock after selling 5,121 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Deere & Company were worth $14,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC grew its position in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company during the 4th quarter valued at about $39,000. Finally, Citizens National Bank Trust Department acquired a new stake in shares of Deere & Company during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Stock Performance
Shares of NYSE DE traded down $1.37 during midday trading on Thursday, reaching $513.80. 377,450 shares of the company were exchanged, compared to its average volume of 1,348,036. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The stock has a market cap of $139.15 billion, a P/E ratio of 24.86, a PEG ratio of 3.21 and a beta of 1.08. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The stock has a fifty day simple moving average of $513.36 and a 200 day simple moving average of $482.39.
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 analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the firm earned $8.53 earnings per share. The firm's revenue was down 17.9% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. Deere & Company's dividend payout ratio is currently 31.35%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on DE shares. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Oppenheimer set a $560.00 target price on Deere & Company and gave the stock an "outperform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Bank of America upped their price objective on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Evercore ISI upped their price objective on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $515.50.
Check Out Our Latest Research Report on DE
Deere & Company Company Profile
(
Free Report)
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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