Kentucky Retirement Systems Insurance Trust Fund Sells 762 Shares of Deere & Company (NYSE:DE)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in Deere & Company (NYSE:DE) by 9.1% during the third quarter, Holdings Channel reports. The institutional investor owned 7,588 shares of the industrial products company’s stock after selling 762 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Deere & Company were worth $3,167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Deere & Company in the 2nd quarter valued at about $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company during the third quarter worth about $32,000. Olistico Wealth LLC acquired a new position in Deere & Company during the second quarter worth approximately $37,000. Finally, Centennial Bank AR raised its stake in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Bank of America upped their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Truist Financial boosted their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Up 1.1 %

NYSE DE opened at $398.95 on Friday. The business has a fifty day moving average price of $404.03 and a two-hundred day moving average price of $385.69. The stock has a market capitalization of $109.15 billion, a PE ratio of 13.61, a PEG ratio of 1.48 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the company earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

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.