Deere & Company $DE Stock Purchased by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC raised its stake in shares of Deere & Company (NYSE:DE) by 28.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,731 shares of the industrial products company’s stock after purchasing an additional 3,977 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Deere & Company were worth $11,907,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boyd Wealth Management LLC grew its position in shares of Deere & Company by 10.6% in the 3rd quarter. Boyd Wealth Management LLC now owns 1,544 shares of the industrial products company’s stock worth $1,037,000 after buying an additional 148 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Deere & Company by 1.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,344 shares of the industrial products company’s stock valued at $24,407,000 after acquiring an additional 389 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Deere & Company by 0.4% in the 3rd quarter. CWA Asset Management Group LLC now owns 23,767 shares of the industrial products company’s stock worth $15,961,000 after purchasing an additional 88 shares in the last quarter. Grandview Asset Management LLC bought a new stake in Deere & Company in the 3rd quarter worth about $366,000. Finally, Smithbridge Asset Management Inc. DE grew its stake in shares of Deere & Company by 7.7% in the third quarter. Smithbridge Asset Management Inc. DE now owns 5,980 shares of the industrial products company’s stock worth $4,016,000 after acquiring an additional 425 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $632.44 on Wednesday. The stock has a market cap of $170.52 billion, a P/E ratio of 35.14, a P/E/G ratio of 2.29 and a beta of 0.86. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The stock’s fifty day moving average is $658.72 and its 200 day moving average is $613.10. Deere & Company has a one year low of $454.50 and a one year high of $721.22.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the previous year, the company posted $4.75 earnings per share. Deere & Company’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. DA Davidson lifted their price objective on Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Citigroup boosted their price target on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Truist Financial cut their price target on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research note on Monday, August 24th. Evercore raised shares of Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price target for the company in a research report on Wednesday, September 2nd. Finally, Barclays increased their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.