Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,491 Shares of Deere & Company (NYSE:DE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Deere & Company (NYSE:DE) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,163 shares of the industrial products company’s stock after selling 1,491 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Deere & Company were worth $23,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in shares of Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the period. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new stake in shares of Deere & Company in the fourth quarter worth $28,000. Naples Money Management LLC acquired a new position in Deere & Company during the fourth quarter worth $29,000. Finally, Private Wealth Management Group LLC bought a new position in Deere & Company in the fourth quarter valued at $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. DA Davidson reduced their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. TD Cowen raised their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. dropped their price objective on Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Oppenheimer reiterated an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a research note on Thursday, May 16th. Finally, Citigroup started coverage on Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $427.13.

Deere & Company Stock Up 2.3 %

Shares of DE traded up $8.58 during trading hours on Wednesday, reaching $386.09. The stock had a trading volume of 979,209 shares, compared to its average volume of 1,506,891. The company has a market capitalization of $106.39 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.50 and a beta of 0.93. The firm has a 50-day simple moving average of $376.92 and a 200 day simple moving average of $384.58. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a 12 month low of $345.93 and a 12 month high of $450.00.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the prior year, the company posted $9.65 earnings per share. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 25.56 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. Deere & Company’s payout ratio is presently 17.70%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.