State of Tennessee Treasury Department Has $29.59 Million Stock Position in Deere & Company (NYSE:DE)

State of Tennessee Treasury Department lowered its position in shares of Deere & Company (NYSE:DEFree Report) by 36.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,006 shares of the industrial products company’s stock after selling 43,210 shares during the quarter. State of Tennessee Treasury Department’s holdings in Deere & Company were worth $29,593,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth about $29,000. Private Wealth Management Group LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $29,000. Bfsg LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $30,000. Finally, ZRC Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $368.30 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The company has a market capitalization of $101.49 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. The company’s 50 day moving average price is $393.16 and its two-hundred day moving average price is $386.16. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same period last year, the company posted $9.65 EPS. The business’s quarterly revenue was down 15.4% on a year-over-year basis. On average, analysts expect that Deere & Company will post 25.73 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.60%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Wells Fargo & Company lowered their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Evercore ISI raised their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Daiwa Capital Markets raised their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, Oppenheimer restated an “outperform” rating and issued a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $433.36.

Read Our Latest Stock Analysis on Deere & Company

Deere & Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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