Deere & Company $DE Shares Acquired by Kentucky Retirement Systems

Kentucky Retirement Systems boosted its position in shares of Deere & Company (NYSE:DE) by 106.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,608 shares of the industrial products company’s stock after buying an additional 16,268 shares during the quarter. Kentucky Retirement Systems’ holdings in Deere & Company were worth $17,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Key Capital Management INC acquired a new stake in Deere & Company in the 4th quarter valued at about $27,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $30,000. Portus Wealth Advisors LLC acquired a new stake in Deere & Company during the first quarter valued at approximately $32,000. Finally, Wealth Watch Advisors INC acquired a new stake in Deere & Company during the third quarter valued at approximately $32,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 4.5%

DE stock opened at $611.20 on Thursday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company’s 50 day simple moving average is $588.92 and its 200-day simple moving average is $579.78. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The firm has a market capitalization of $164.99 billion, a P/E ratio of 34.63, a P/E/G ratio of 2.70 and a beta of 0.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same quarter last year, the business posted $6.64 EPS. The company’s revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that Deere & Company will post 18.28 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.71%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. Robert W. Baird reduced their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Oppenheimer reiterated an “outperform” rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Truist Financial lifted their target price on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $642.98.

Deere & 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.