Strs Ohio Has $29.66 Million Stock Position in Deere & Company (NYSE:DE)

Strs Ohio lowered its stake in Deere & Company (NYSE:DE) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,171 shares of the industrial products company’s stock after selling 4,154 shares during the quarter. Strs Ohio’s holdings in Deere & Company were worth $29,658,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DE. RB Capital Management LLC increased its position in shares of Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after buying an additional 81 shares in the last quarter. Bornite Capital Management LP bought a new stake in shares of Deere & Company in the 1st quarter valued at $14,541,000. Retirement Income Solutions Inc bought a new stake in shares of Deere & Company in the 1st quarter valued at $229,000. Sequoia Financial Advisors LLC increased its position in shares of Deere & Company by 27.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after buying an additional 521 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after buying an additional 27,985 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 0.9 %

Shares of NYSE:DE opened at $393.80 on Tuesday. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a market capitalization of $109.62 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. The company has a 50-day simple moving average of $384.87 and a 200 day simple moving average of $382.45. 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 issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same period last year, the business posted $6.55 EPS. Deere & Company’s revenue was down 8.0% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.49%. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DE. Evercore ISI upped their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Morgan Stanley began coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 target price for the company. Finally, Melius Research reiterated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $433.28.

About Deere & Company

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.