Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stock Holdings in Deere & Company $DE

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Deere & Company (NYSE:DE) by 6.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,906 shares of the industrial products company’s stock after purchasing an additional 3,983 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Deere & Company were worth $31,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Deere & Company in the 2nd quarter valued at about $25,000. Activest Wealth Management boosted its stake in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company in the second quarter valued at approximately $38,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the second quarter valued at approximately $39,000. Finally, Center for Financial Planning Inc. increased its position in shares of Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 61 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $475.76 on Friday. The firm has a market cap of $128.61 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company’s 50 day moving average is $466.04 and its 200-day moving average is $490.89. Deere & Company has a 12-month low of $390.00 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.29 EPS. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Tuesday, September 30th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DE shares. Citigroup cut their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. Wells Fargo & Company initiated coverage on shares of Deere & Company in a report on Thursday. They issued an “overweight” rating and a $543.00 price target on the stock. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research report on Tuesday, August 19th. Finally, DA Davidson reduced their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $520.05.

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.