New York State Teachers Retirement System Increases Stock Holdings in Deere & Company $DE

New York State Teachers Retirement System lifted its position in shares of Deere & Company (NYSE:DE) by 0.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 188,232 shares of the industrial products company’s stock after acquiring an additional 1,282 shares during the period. New York State Teachers Retirement System’s holdings in Deere & Company were worth $106,031,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sierra Summit Advisors LLC acquired a new position in shares of Deere & Company during the 1st quarter worth approximately $13,098,000. Optas LLC lifted its stake in Deere & Company by 8.4% in the 1st quarter. Optas LLC now owns 1,291 shares of the industrial products company’s stock valued at $727,000 after buying an additional 100 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Deere & Company during the 1st quarter valued at $1,707,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Deere & Company by 58.9% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 61,436 shares of the industrial products company’s stock valued at $34,607,000 after buying an additional 22,770 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC increased its position in Deere & Company by 173.8% during the first quarter. Elevation Point Wealth Partners LLC now owns 5,336 shares of the industrial products company’s stock worth $3,010,000 after buying an additional 3,387 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Down 1.0%

DE opened at $621.09 on Friday. The firm has a 50 day moving average price of $577.59 and a 200 day moving average price of $562.28. The company has a market cap of $167.66 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $6.64 earnings per share. Sell-side analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Analysts Set New Price Targets

A number of research firms recently commented on DE. JPMorgan Chase & Co. increased their price objective on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Bank of America cut their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Finally, Raymond James Financial cut their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $642.23.

Deere & Company 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.