Strs Ohio Sells 4,154 Shares of Deere & Company (NYSE:DE)

Strs Ohio decreased its holdings in shares of Deere & Company (NYSE:DE) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,171 shares of the industrial products company’s stock after selling 4,154 shares during the period. Strs Ohio’s holdings in Deere & Company were worth $29,658,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Carnegie Capital Asset Management LLC boosted its position in shares of Deere & Company by 2.0% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 55,457 shares of the industrial products company’s stock valued at $22,176,000 after purchasing an additional 1,070 shares in the last quarter. River Street Advisors LLC boosted its holdings in Deere & Company by 4.8% in the fourth quarter. River Street Advisors LLC now owns 1,931 shares of the industrial products company’s stock worth $772,000 after acquiring an additional 88 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Deere & Company in the fourth quarter worth approximately $2,710,000. Crown Oak Advisors LLC bought a new position in Deere & Company in the fourth quarter worth approximately $9,532,000. Finally, Louisiana State Employees Retirement System bought a new position in Deere & Company in the fourth quarter worth approximately $6,478,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $393.80 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The business has a fifty day simple moving average of $384.87 and a two-hundred day simple moving average of $382.45. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a market capitalization of $109.62 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same period last year, the business posted $6.55 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts expect that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company cut their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial initiated coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Citigroup lowered their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.