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

New York State Teachers Retirement System increased its stake in shares of Deere & Company (NYSE:DE) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,232 shares of the industrial products company’s stock after acquiring an additional 1,282 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Deere & Company worth $106,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cary Street Partners Financial LLC boosted its stake in Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC grew its position in Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after purchasing an additional 30,553 shares during the last quarter. Westpac Banking Corp increased its stake in Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after purchasing an additional 3,047 shares during the period. Legal & General Group Plc increased its stake in Deere & Company by 7.6% in the third quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock valued at $755,385,000 after purchasing an additional 115,975 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Deere & Company by 7.1% in the third quarter. Blair William & Co. IL now owns 145,580 shares of the industrial products company’s stock valued at $66,568,000 after buying an additional 9,598 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $621.09 on Friday. The stock has a market capitalization of $167.66 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.32 and a beta of 0.89. The business’s 50 day moving average is $577.59 and its two-hundred day moving average is $562.28. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup dropped their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research note on Wednesday, April 8th. DA Davidson decreased their price objective on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus 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.