Deere & Company (NYSE:DE) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in Deere & Company (NYSE:DE) by 6.1% during the fourth quarter, Holdings Channel reports. The fund owned 207,445 shares of the industrial products company’s stock after selling 13,577 shares during the quarter. New York State Teachers Retirement System’s holdings in Deere & Company were worth $87,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Asset Planning Inc acquired a new stake in shares of Deere & Company in the 4th quarter worth about $51,000. Banque Pictet & Cie SA increased its holdings in shares of Deere & Company by 2.0% in the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after acquiring an additional 1,500 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Deere & Company by 1.2% in the 4th quarter. V Square Quantitative Management LLC now owns 4,914 shares of the industrial products company’s stock worth $2,082,000 after acquiring an additional 60 shares during the period. Rooted Wealth Advisors Inc. increased its holdings in shares of Deere & Company by 9.0% in the 4th quarter. Rooted Wealth Advisors Inc. now owns 690 shares of the industrial products company’s stock worth $285,000 after acquiring an additional 57 shares during the period. Finally, Compagnie Lombard Odier SCmA increased its holdings in shares of Deere & Company by 0.6% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 17,995 shares of the industrial products company’s stock worth $7,624,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $466.30 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The company has a 50-day moving average of $445.86 and a two-hundred day moving average of $415.14. The stock has a market cap of $127.00 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 2.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. On average, equities research analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $446.17.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.