California Public Employees Retirement System Sells 27,865 Shares of Deere & Company (NYSE:DE)

California Public Employees Retirement System decreased its position in Deere & Company (NYSE:DE) by 3.8% during the 4th quarter, Holdings Channel reports. The firm owned 710,090 shares of the industrial products company’s stock after selling 27,865 shares during the period. California Public Employees Retirement System’s holdings in Deere & Company were worth $300,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RWA Wealth Partners LLC boosted its position in Deere & Company by 6.3% during the 4th quarter. RWA Wealth Partners LLC now owns 8,964 shares of the industrial products company’s stock valued at $3,798,000 after acquiring an additional 533 shares in the last quarter. Summit Securities Group LLC bought a new stake in Deere & Company in the fourth quarter worth $127,000. Schroder Investment Management Group lifted its stake in shares of Deere & Company by 17.4% in the fourth quarter. Schroder Investment Management Group now owns 339,906 shares of the industrial products company’s stock worth $143,787,000 after buying an additional 50,327 shares in the last quarter. Allianz SE bought a new stake in shares of Deere & Company in the 4th quarter worth $7,622,000. Finally, Allstate Corp purchased a new position in Deere & Company in the 4th quarter worth about $3,287,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on DE shares. Argus set a $510.00 price objective on Deere & Company in a report on Friday, March 7th. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Oppenheimer increased their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $460.00.

Deere & Company Stock Performance

NYSE DE opened at $465.27 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The company has a market cap of $126.28 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.14 and a beta of 1.01. The business’s 50 day moving average price is $477.28 and its 200-day moving average price is $439.76.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. Deere & Company’s payout ratio is 28.72%.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

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.