Deere & Company (NYSE:DE) Holdings Increased by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in shares of Deere & Company (NYSE:DE) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 545,182 shares of the industrial products company’s stock after buying an additional 35,173 shares during the quarter. California Public Employees Retirement System’s holdings in Deere & Company were worth $218,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Foster & Motley Inc. raised its position in shares of Deere & Company by 13.1% during the 4th quarter. Foster & Motley Inc. now owns 3,151 shares of the industrial products company’s stock worth $1,260,000 after buying an additional 365 shares in the last quarter. RWA Wealth Partners LLC grew its stake in shares of Deere & Company by 444.2% in the 4th quarter. RWA Wealth Partners LLC now owns 8,223 shares of the industrial products company’s stock worth $3,288,000 after purchasing an additional 6,712 shares during the last quarter. Duality Advisers LP acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $461,000. Legacy Financial Strategies LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $206,000. Finally, Capital Investment Advisory Services LLC grew its stake in shares of Deere & Company by 3.6% in the 4th quarter. Capital Investment Advisory Services LLC now owns 1,755 shares of the industrial products company’s stock worth $702,000 after purchasing an additional 61 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DE shares. Wells Fargo & Company lowered their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley initiated coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Stifel Nicolaus dropped their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Citigroup dropped their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Stock Performance

Shares of Deere & Company stock traded up $4.77 on Tuesday, reaching $404.38. The stock had a trading volume of 216,807 shares, compared to its average volume of 1,472,575. The business’s 50-day moving average price is $386.06 and its two-hundred day moving average price is $383.26. 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 has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The stock has a market cap of $112.56 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $10.30 billion. During the same period in the previous year, the company earned $6.55 earnings per share. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 27.4 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

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.