Deere & Company (NYSE:DE) Position Trimmed by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its stake in Deere & Company (NYSE:DE) by 15.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 544,528 shares of the industrial products company’s stock after selling 101,367 shares during the quarter. Deere & Company makes up 3.8% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 10th biggest holding. Ontario Teachers Pension Plan Board’s holdings in Deere & Company were worth $255,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in Deere & Company during the first quarter valued at about $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the fourth quarter worth about $39,000. Finally, Citizens National Bank Trust Department bought a new stake in Deere & Company during the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $509.86 on Thursday. The business’s 50 day moving average price is $512.29 and its 200-day moving average price is $488.40. Deere & Company has a fifty-two week low of $343.38 and a fifty-two week high of $533.78. The company has a market cap of $138.09 billion, a P/E ratio of 24.67, a P/E/G ratio of 3.22 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business’s revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.53 earnings per share. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is presently 31.35%.

Analysts Set New Price Targets

Several research firms have weighed in on DE. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Barclays boosted their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. DA Davidson restated a “buy” rating and set a $542.00 target price on shares of Deere & Company in a research report on Friday, May 16th. Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Finally, Bank of America boosted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $515.50.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.