Teacher Retirement System of Texas Has $18.83 Million Stock Holdings in Deere & Company $DE

Teacher Retirement System of Texas trimmed its holdings in shares of Deere & Company (NYSE:DE) by 8.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 41,182 shares of the industrial products company’s stock after selling 4,001 shares during the period. Teacher Retirement System of Texas’ holdings in Deere & Company were worth $18,831,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in DE. Norges Bank acquired a new position in Deere & Company in the second quarter worth about $1,578,243,000. Marshall Wace LLP grew its stake in shares of Deere & Company by 573.9% in the 2nd quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock valued at $428,597,000 after purchasing an additional 717,808 shares during the period. TD Asset Management Inc grew its stake in shares of Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after purchasing an additional 410,636 shares during the period. Laurel Wealth Advisors LLC raised its holdings in shares of Deere & Company by 50,691.9% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after buying an additional 331,525 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Deere & Company by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after buying an additional 309,081 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DE. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price target on shares of Deere & Company in a research report on Tuesday, December 9th. Royal Bank Of Canada reduced their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research note on Friday, November 28th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Deere & Company in a report on Tuesday, December 9th. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Finally, Robert W. Baird reduced their price target on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

Insider Buying and Selling

In related news, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the transaction, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the transaction, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 64,578 shares of company stock valued at $32,471,682. 0.29% of the stock is currently owned by company insiders.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $514.92 on Friday. The business has a fifty day moving average of $482.61 and a 200-day moving average of $481.87. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a twelve month low of $404.42 and a twelve month high of $533.78. The firm has a market cap of $139.58 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The company had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $4.55 EPS. On average, equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s dividend payout ratio is 35.01%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.