Deere & Company (NYSE:DE) Stock Position Decreased by PGGM Investments

PGGM Investments lessened its holdings in shares of Deere & Company (NYSE:DE) by 36.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,680 shares of the industrial products company’s stock after selling 7,947 shares during the period. PGGM Investments’ holdings in Deere & Company were worth $5,470,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DE. Briaud Financial Planning Inc bought a new position in Deere & Company in the 3rd quarter worth about $25,000. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $29,000. Bfsg LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $30,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $28,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $393.33 on Monday. The company’s fifty day moving average is $387.86 and its 200-day moving average is $383.52. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The firm has a market cap of $109.49 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the business posted $6.55 EPS. Deere & Company’s revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s payout ratio is 17.12%.

Analysts Set New Price Targets

Several analysts recently commented on DE shares. Wells Fargo & Company cut their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Finally, Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Profile

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.