Texas Permanent School Fund Corp Sells 9,762 Shares of Deere & Company $DE

Texas Permanent School Fund Corp cut its holdings in shares of Deere & Company (NYSE:DE) by 35.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,706 shares of the industrial products company’s stock after selling 9,762 shares during the period. Texas Permanent School Fund Corp’s holdings in Deere & Company were worth $9,003,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in Deere & Company during the second quarter worth $1,578,243,000. Marshall Wace LLP raised its position in shares of Deere & Company by 573.9% in the 2nd quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after acquiring an additional 717,808 shares in the last quarter. TD Asset Management Inc raised its position in shares of Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after acquiring an additional 410,636 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after purchasing an additional 361,526 shares during the last quarter. Finally, Laurel Wealth Advisors LLC lifted its stake in shares of Deere & Company by 50,691.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after purchasing an additional 331,525 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Deere & Company

In other Deere & Company news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. The trade was a 8.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DE shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 8th. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Daiwa Capital Markets decreased their target price on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research report on Tuesday, December 2nd. Evercore ISI restated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Finally, Jefferies Financial Group upped their price target on Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $523.70.

Deere & Company Stock Up 0.6%

DE stock opened at $487.81 on Tuesday. The stock has a market capitalization of $131.87 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average of $469.62 and a 200 day moving average of $487.30.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the previous year, the company posted $4.55 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.