California State Teachers Retirement System Decreases Stock Holdings in Deere & Company $DE

California State Teachers Retirement System reduced its stake in shares of Deere & Company (NYSE:DE) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 387,359 shares of the industrial products company’s stock after selling 9,960 shares during the quarter. California State Teachers Retirement System’s holdings in Deere & Company were worth $218,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $1,715,633,000. Capital World Investors increased its stake in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after purchasing an additional 1,893,972 shares during the last quarter. M&T Bank Corp raised its holdings in Deere & Company by 1,199.8% during the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after purchasing an additional 1,721,239 shares during the last quarter. Finally, Diamant Asset Management Inc. boosted its position in Deere & Company by 56,230.0% during the first quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock worth $343,961,000 after purchasing an additional 609,533 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 2.5%

Shares of Deere & Company stock opened at $640.78 on Wednesday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The business’s fifty day moving average is $587.92 and its two-hundred day moving average is $579.01. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of $172.97 billion, a PE ratio of 36.30, a P/E/G ratio of 2.64 and a beta of 0.89.

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

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DE shares. Raymond James Financial lowered their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Finally, Bank of America cut their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $642.98.

About Deere & Company

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.