Deere & Company (DE) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System boosted its stake in Deere & Company (NYSE:DE) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 796,383 shares of the industrial products company’s stock after acquiring an additional 65,031 shares during the period. California Public Employees Retirement System owned 0.25% of Deere & Company worth $100,018,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. QCI Asset Management Inc. NY raised its holdings in Deere & Company by 18.8% in the 2nd quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 150 shares during the last quarter. Arrow Financial Corp increased its holdings in Deere & Company by 5.2% in the 2nd quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 50 shares in the last quarter. Harfst & Associates Inc. increased its holdings in Deere & Company by 44.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 360 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its position in Deere & Company by 1.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after buying an additional 13 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA purchased a new position in Deere & Company in the 2nd quarter valued at about $155,000. Hedge funds and other institutional investors own 67.75% of the company’s stock.
In other Deere & Company news, insider James M. Field sold 48,427 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $147.98, for a total value of $7,166,227.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pentz Markwart Von sold 22,095 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $120.10, for a total transaction of $2,653,609.50. Following the completion of the sale, the insider now owns 51,626 shares in the company, valued at approximately $6,200,282.60. The disclosure for this sale can be found here. Insiders sold 219,486 shares of company stock worth $29,869,619 in the last 90 days. 0.75% of the stock is owned by company insiders.
Deere & Company (NYSE DE) opened at $151.33 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71. Deere & Company has a twelve month low of $100.05 and a twelve month high of $152.68. The stock has a market cap of $48,702.18, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.34 and a beta of 0.77.
Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The company had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.91 billion. During the same quarter last year, the business earned $0.90 earnings per share. Deere & Company’s revenue was up 25.6% compared to the same quarter last year. equities analysts expect that Deere & Company will post 7.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, December 29th will be paid a $0.60 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.59%. Deere & Company’s payout ratio is currently 36.14%.
A number of equities analysts have weighed in on the stock. Bank of America decreased their price objective on shares of Deere & Company from $145.00 to $130.00 and set a “neutral” rating for the company in a research report on Monday, August 21st. Robert W. Baird cut shares of Deere & Company from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $140.00 to $130.00 in a research report on Friday, August 18th. BMO Capital Markets reissued an “outperform” rating and issued a $150.00 price objective (up from $140.00) on shares of Deere & Company in a research report on Wednesday, August 16th. BidaskClub cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Argus reissued a “buy” rating and issued a $140.00 price objective on shares of Deere & Company in a research report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $140.33.
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Deere & Company Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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