Teachers Retirement System of The State of Kentucky reduced its holdings in Deere & Company (NYSE:DE) by 7.1% during the 4th quarter, Holdings Channel reports. The fund owned 26,150 shares of the industrial products company’s stock after selling 2,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Deere & Company were worth $7,036,000 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. Klaas Financial Asset Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $26,000. Grant Street Asset Management Inc. acquired a new position in Deere & Company during the 4th quarter worth $27,000. Syverson Strege & Co acquired a new position in Deere & Company during the 4th quarter worth $28,000. Leelyn Smith LLC lifted its holdings in Deere & Company by 2,500.0% during the 4th quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Finally, Clearview Wealth Advisors LLC acquired a new position in Deere & Company during the 4th quarter worth $32,000. 66.77% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on DE shares. Morgan Stanley upped their price objective on Deere & Company from $341.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, February 25th. Stifel Nicolaus upped their price objective on Deere & Company from $325.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, March 1st. Jefferies Financial Group upped their price objective on Deere & Company from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, January 15th. Oppenheimer upped their price objective on Deere & Company from $331.00 to $380.00 and gave the stock an “outperform” rating in a report on Monday, March 1st. Finally, Argus upped their price objective on Deere & Company from $280.00 to $380.00 and gave the stock a “buy” rating in a report on Monday, March 1st. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $320.20.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 18th. The industrial products company reported $3.87 EPS for the quarter, beating the Zacks’ consensus estimate of $2.17 by $1.70. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 13.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Wednesday, March 31st will be given a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.96%. This is a boost from Deere & Company’s previous quarterly dividend of $0.76. Deere & Company’s dividend payout ratio is currently 41.43%.
Deere & Company Profile
Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.
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