Deere & Company $DE Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lessened its stake in shares of Deere & Company (NYSE:DE) by 11.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 13,373 shares of the industrial products company’s stock after selling 1,774 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Deere & Company were worth $6,800,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after purchasing an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after purchasing an additional 35,075 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Deere & Company by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after buying an additional 25,725 shares during the period. Finally, Invesco Ltd. lifted its stake in Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after buying an additional 256,806 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Wolfe Research decreased their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial lowered their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. lowered their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $518.18.

Deere & Company Trading Down 1.2%

NYSE DE opened at $457.47 on Tuesday. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $123.67 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02. The firm’s fifty day simple moving average is $483.57 and its 200-day simple moving average is $489.14.

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

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s payout ratio is presently 33.87%.

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.