Maryland State Retirement & Pension System Cuts Stake in Deere & Company (NYSE:DE)

Maryland State Retirement & Pension System lessened its position in Deere & Company (NYSE:DE) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 20,635 shares of the industrial products company’s stock after selling 199 shares during the period. Maryland State Retirement & Pension System’s holdings in Deere & Company were worth $8,251,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. grew its holdings in Deere & Company by 9.9% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,050 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 95 shares during the period. Spire Wealth Management grew its holdings in Deere & Company by 24.4% during the fourth quarter. Spire Wealth Management now owns 3,709 shares of the industrial products company’s stock worth $1,419,000 after acquiring an additional 728 shares during the period. Valley Brook Capital Group Inc. grew its holdings in Deere & Company by 5.0% during the fourth quarter. Valley Brook Capital Group Inc. now owns 4,693 shares of the industrial products company’s stock worth $1,877,000 after acquiring an additional 223 shares during the period. W.H. Cornerstone Investments Inc. grew its holdings in Deere & Company by 5.9% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 647 shares of the industrial products company’s stock worth $259,000 after acquiring an additional 36 shares during the period. Finally, Fi3 FINANCIAL ADVISORS LLC grew its holdings in Deere & Company by 15.0% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 620 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.2 %

NYSE DE traded up $1.00 during trading hours on Monday, hitting $401.96. 1,042,525 shares of the company’s stock were exchanged, compared to its average volume of 1,467,164. The business’s 50 day moving average is $392.23 and its 200-day moving average is $384.02. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The firm has a market capitalization of $111.89 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $6.55 EPS. As a group, analysts anticipate that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DE. Morgan Stanley began coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective on the stock. Citigroup dropped their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company lowered their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.