Strs Ohio Raises Holdings in Deere & Company $DE

Strs Ohio lifted its holdings in shares of Deere & Company (NYSE:DE) by 7.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 63,246 shares of the industrial products company’s stock after acquiring an additional 4,322 shares during the period. Strs Ohio’s holdings in Deere & Company were worth $32,160,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DE. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the second quarter worth about $25,000. Activest Wealth Management grew its stake in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company during the first quarter worth about $29,000. Cornerstone Planning Group LLC grew its stake in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company during the second quarter worth about $38,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Zacks Research downgraded Deere & Company from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Oppenheimer decreased their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Finally, Truist Financial lifted their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Trading Down 1.6%

Shares of NYSE:DE opened at $465.99 on Friday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a market capitalization of $125.97 billion, a PE ratio of 24.36, a PEG ratio of 3.05 and a beta of 1.02. The business has a 50 day moving average of $468.41 and a two-hundred day moving average of $489.53. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the company posted $6.29 earnings per share. Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s payout ratio is presently 33.87%.

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.