Teacher Retirement System of Texas grew its position in shares of Deere & Company (NYSE:DE) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,313 shares of the industrial products company’s stock after purchasing an additional 1,827 shares during the period. Teacher Retirement System of Texas’ holdings in Deere & Company were worth $8,711,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC acquired a new position in Deere & Company during the first quarter worth $100,000. Kaizen Advisory LLC lifted its stake in Deere & Company by 158.4% during the second quarter. Kaizen Advisory LLC now owns 796 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 488 shares in the last quarter. Winthrop Partners WNY LLC acquired a new position in Deere & Company during the first quarter worth $114,000. Clarus Wealth Advisors acquired a new position in Deere & Company during the second quarter worth $118,000. Finally, Bedel Financial Consulting Inc. acquired a new position in Deere & Company during the first quarter worth $128,000. Institutional investors own 66.71% of the company’s stock.
A number of research analysts have commented on DE shares. Zacks Investment Research cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Bank of America upgraded Deere & Company from a “neutral” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Thursday, May 3rd. Evercore ISI raised Deere & Company from an “in-line” rating to an “outperform” rating in a research report on Monday, May 7th. TheStreet raised Deere & Company from a “c+” rating to an “a-” rating in a research report on Friday, May 18th. Finally, UBS Group raised Deere & Company from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $112.87 to $185.00 in a research report on Thursday, May 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. Deere & Company currently has a consensus rating of “Buy” and a consensus target price of $179.25.
Deere & Company stock opened at $140.59 on Monday. Deere & Company has a twelve month low of $112.87 and a twelve month high of $175.26. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.64 and a current ratio of 1.91. The firm has a market cap of $44.44 billion, a PE ratio of 21.05, a P/E/G ratio of 2.50 and a beta of 0.85.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, August 17th. The industrial products company reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.16). Deere & Company had a return on equity of 27.67% and a net margin of 5.46%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.18 billion. During the same period in the prior year, the company posted $1.97 EPS. The firm’s revenue was up 35.9% compared to the same quarter last year. analysts predict that Deere & Company will post 9.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Friday, June 29th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, June 28th. This is a positive change from Deere & Company’s previous quarterly dividend of $0.60. Deere & Company’s dividend payout ratio is 41.32%.
About Deere & Company
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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