Public Employees Retirement System of Ohio trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,914 shares of the industrial products company's stock after selling 2,156 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Deere & Company were worth $47,122,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in DE. Fairscale Capital LLC acquired a new position in Deere & Company in the 2nd quarter valued at $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the 3rd quarter valued at $32,000. Centennial Bank AR raised its stake in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Briaud Financial Planning Inc raised its stake in Deere & Company by 73.5% in the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Deere & Company in the 3rd quarter valued at $47,000. 68.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on DE. Citigroup raised their target price on Deere & Company from $460.00 to $470.00 and gave the stock a "neutral" rating in a research note on Monday. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Hsbc Global Res downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Truist Financial raised their target price on Deere & Company from $496.00 to $538.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Finally, Oppenheimer raised their target price on Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Deere & Company currently has a consensus rating of "Hold" and a consensus price target of $443.28.
Check Out Our Latest Research Report on Deere & Company
Deere & Company Trading Up 1.7 %
Deere & Company stock traded up $7.34 during midday trading on Monday, reaching $451.34. 720,067 shares of the stock traded hands, compared to its average volume of 1,441,782. The company has a 50-day simple moving average of $417.53 and a two-hundred day simple moving average of $390.34. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The firm has a market cap of $123.49 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company's revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter last year, the company earned $8.26 EPS. Research analysts expect that Deere & Company will post 19.52 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio (DPR) is 22.97%.
About Deere & Company
(
Free Report)
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.
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