Arizona State Retirement System cut its stake in Deere & Company (NYSE:DE – Free Report) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,454 shares of the industrial products company’s stock after selling 2,938 shares during the quarter. Arizona State Retirement System’s holdings in Deere & Company were worth $42,788,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of DE. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Deere & Company in the 2nd quarter valued at $27,000. Kilter Group LLC purchased a new position in Deere & Company during the 2nd quarter worth $29,000. Solstein Capital LLC purchased a new position in Deere & Company during the 2nd quarter worth $30,000. Orion Capital Management LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth $32,000. Finally, Markowski Investments bought a new stake in shares of Deere & Company in the 2nd quarter worth $34,000. Institutional investors own 68.58% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on DE shares. UBS Group dropped their price target on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Robert W. Baird raised shares of Deere & Company from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $640.00 to $800.00 in a research report on Monday, August 31st. Citigroup increased their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Bank of America dropped their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Finally, DA Davidson boosted their target price on Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Sixteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $680.73.
Deere & Company Price Performance
Deere & Company stock traded down $12.81 during midday trading on Tuesday, reaching $680.72. 883,477 shares of the stock were exchanged, compared to its average volume of 1,380,189. The company’s fifty day moving average is $620.43 and its 200-day moving average is $596.90. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The firm has a market cap of $183.54 billion, a PE ratio of 37.82, a PEG ratio of 2.86 and a beta of 0.90. Deere & Company has a 52 week low of $433.00 and a 52 week high of $705.88.
Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.69 by $0.41. The firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $4.75 EPS. On average, sell-side analysts forecast that Deere & Company will post 18.12 EPS for the current year.
Deere & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.
Deere & 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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