Teachers Retirement System of The State of Kentucky decreased its stake in Deere & Company (NYSE:DE) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,150 shares of the industrial products company’s stock after selling 2,000 shares during the period. 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.
Several other hedge funds and other institutional investors also recently made changes to their positions in DE. BancorpSouth Bank increased its position in Deere & Company by 295.2% in the 4th quarter. BancorpSouth Bank now owns 5,355 shares of the industrial products company’s stock valued at $1,441,000 after acquiring an additional 4,000 shares during the period. Great Valley Advisor Group Inc. increased its position in Deere & Company by 194.9% in the 4th quarter. Great Valley Advisor Group Inc. now owns 8,193 shares of the industrial products company’s stock valued at $2,204,000 after acquiring an additional 5,415 shares during the period. Signet Investment Advisory Group Inc. acquired a new position in shares of Deere & Company during the 4th quarter valued at $961,000. First United Bank Trust increased its position in shares of Deere & Company by 6.9% during the 4th quarter. First United Bank Trust now owns 3,206 shares of the industrial products company’s stock valued at $863,000 after purchasing an additional 208 shares during the period. Finally, Sei Investments Co. increased its position in shares of Deere & Company by 288.2% during the 3rd quarter. Sei Investments Co. now owns 100,262 shares of the industrial products company’s stock valued at $22,219,000 after purchasing an additional 74,433 shares during the period. 66.77% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on DE. Robert W. Baird lifted their price target on Deere & Company from $353.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. Stifel Nicolaus lifted their price target on Deere & Company from $325.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, March 1st. Citigroup lifted their price target on Deere & Company from $325.00 to $375.00 and gave the company a “neutral” rating in a research report on Wednesday, March 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Deere & Company from $287.00 to $360.00 and gave the company a “hold” rating in a research report on Monday, March 1st. Finally, Morgan Stanley lifted their price target on Deere & Company from $341.00 to $394.00 and gave the company an “overweight” rating in a research report on Thursday, February 25th. 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 company currently has an average rating of “Buy” and a consensus 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $1.70. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Deere & Company had a return on equity of 22.17% and a net margin of 7.74%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 earnings per share. As a group, sell-side analysts forecast 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 dividend of $0.90 per share. This is a boost from Deere & Company’s previous quarterly dividend of $0.76. The ex-dividend date is Tuesday, March 30th. This represents a $3.60 dividend on an annualized basis and a yield of 0.96%. Deere & Company’s dividend payout ratio (DPR) is presently 41.43%.
About Deere & Company
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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