Teacher Retirement System of Texas Has $21.51 Million Stock Holdings in Deere & Company $DE

Teacher Retirement System of Texas lifted its stake in shares of Deere & Company (NYSE:DE) by 12.2% during the fourth quarter, Holdings Channel reports. The firm owned 46,204 shares of the industrial products company’s stock after purchasing an additional 5,022 shares during the quarter. Teacher Retirement System of Texas’ holdings in Deere & Company were worth $21,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DE. Strategic Advocates LLC acquired a new stake in shares of Deere & Company during the third quarter worth $25,000. Key Capital Management INC purchased a new position in shares of Deere & Company during the fourth quarter valued at $27,000. Activest Wealth Management grew its holdings in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after buying an additional 27 shares in the last quarter. Wealth Watch Advisors INC purchased a new position in shares of Deere & Company during the third quarter valued at $32,000. Finally, United Community Bank grew its holdings in shares of Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock valued at $42,000 after buying an additional 37 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of NYSE DE opened at $562.54 on Friday. The business’s 50-day moving average price is $593.61 and its two-hundred day moving average price is $525.65. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a market capitalization of $151.95 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.07 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 18.01 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. Deere & Company’s payout ratio is 36.53%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Argus lifted their price target on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Morgan Stanley lifted their price target on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Raymond James Financial reiterated an “outperform” rating and set a $765.00 price target on shares of Deere & Company in a report on Monday, February 23rd. JPMorgan Chase & Co. lifted their price target on Deere & Company from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Finally, Wells Fargo & Company lifted their price target on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $655.45.

About Deere & Company

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.