Teachers Retirement System of The State of Kentucky Sells 1,463 Shares of Deere & Company (NYSE:DE)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Deere & Company (NYSE:DE - Free Report) by 3.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,434 shares of the industrial products company's stock after selling 1,463 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Deere & Company were worth $16,457,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. raised its stake in Deere & Company by 29.3% in the third quarter. Sunbelt Securities Inc. now owns 847 shares of the industrial products company's stock valued at $354,000 after buying an additional 192 shares during the period. Toronto Dominion Bank raised its stake in Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock valued at $36,288,000 after buying an additional 1,291 shares during the period. First Dallas Securities Inc. bought a new stake in Deere & Company in the third quarter valued at approximately $351,000. Geode Capital Management LLC raised its stake in Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock valued at $2,168,737,000 after buying an additional 31,459 shares during the period. Finally, Brophy Wealth Management LLC bought a new stake in Deere & Company in the third quarter valued at approximately $420,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of DE stock traded down $8.55 during trading hours on Thursday, reaching $439.48. The company's stock had a trading volume of 867,049 shares, compared to its average volume of 1,441,555. The firm's 50 day simple moving average is $419.35 and its 200-day simple moving average is $391.72. The company has a market capitalization of $120.24 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.90 and a beta of 0.96. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts' consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company's revenue was down 32.8% compared to the same quarter last year. During the same quarter last year, the business posted $8.26 EPS. Sell-side analysts forecast that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.47%. This is a boost from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company's dividend payout ratio is currently 25.31%.

Analyst Ratings Changes

Several analysts have issued reports on DE shares. Jefferies Financial Group lowered Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Evercore ISI upped their target price on Deere & Company from $371.00 to $378.00 and gave the company an "in-line" rating in a research report on Monday, August 19th. Hsbc Global Res downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. Citigroup upped their target price on Deere & Company from $460.00 to $470.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $443.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.