Kentucky Retirement Systems Cuts Holdings in Deere & Company (NYSE:DE)

Kentucky Retirement Systems lowered its stake in shares of Deere & Company (NYSE:DE) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,508 shares of the industrial products company’s stock after selling 267 shares during the quarter. Kentucky Retirement Systems’ holdings in Deere & Company were worth $7,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. CCLA Investment Management raised its holdings in shares of Deere & Company by 1.1% during the 2nd quarter. CCLA Investment Management now owns 192,220 shares of the industrial products company’s stock valued at $72,315,000 after buying an additional 2,044 shares in the last quarter. Waterloo Capital L.P. raised its stake in shares of Deere & Company by 23.3% during the second quarter. Waterloo Capital L.P. now owns 1,717 shares of the industrial products company’s stock worth $642,000 after acquiring an additional 325 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Deere & Company by 5.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,023 shares of the industrial products company’s stock worth $8,593,000 after acquiring an additional 1,160 shares during the last quarter. Tredje AP fonden boosted its stake in shares of Deere & Company by 50.2% in the 2nd quarter. Tredje AP fonden now owns 244,059 shares of the industrial products company’s stock valued at $91,188,000 after purchasing an additional 81,600 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in shares of Deere & Company by 5.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 41,179 shares of the industrial products company’s stock valued at $15,386,000 after purchasing an additional 2,153 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $401.11 on Thursday. The stock has a market cap of $110.53 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.29 and a beta of 0.92. The stock’s 50 day simple moving average is $374.47 and its two-hundred day simple moving average is $382.18. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $417.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.20 EPS. As a group, analysts expect that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DE shares. Oppenheimer lowered their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Truist Financial restated a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Evercore ISI increased their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets initiated coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $409.88.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Deere & Company 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.