Strs Ohio Raises Stock Holdings in Deere & Company $DE

Strs Ohio raised its holdings in shares of Deere & Company (NYSE:DE) by 21.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,596 shares of the industrial products company’s stock after purchasing an additional 13,350 shares during the quarter. Strs Ohio’s holdings in Deere & Company were worth $35,024,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Deere & Company in the second quarter worth $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company during the 2nd quarter worth $27,000. Center for Financial Planning Inc. grew its holdings in Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 61 shares in the last quarter. Soundwatch Capital LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth about $41,000. Finally, Lynch Asset Management Inc. acquired a new stake in shares of Deere & Company in the 3rd quarter valued at about $46,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Deere & Company

In other 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 stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,578 shares of company stock valued at $32,471,682 over the last three months. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on DE shares. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Wolfe Research lifted their target price on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $560.00 price target on shares of Deere & Company in a report on Tuesday, December 9th. Evercore ISI restated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Finally, Truist Financial lifted their price objective on shares of Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a report on Friday, November 28th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company Trading Down 1.4%

NYSE:DE opened at $514.92 on Friday. The firm has a market capitalization of $139.58 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.00 and a beta of 1.00. The business has a 50 day simple moving average of $482.61 and a 200 day simple moving average of $482.05. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. Deere & Company has a 12-month low of $404.42 and a 12-month high of $533.78.

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

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be given a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

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.