Prime Capital Investment Advisors LLC Has $13.20 Million Position in Deere & Company (NYSE:DE)

Prime Capital Investment Advisors LLC lowered its stake in Deere & Company (NYSE:DE) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,626 shares of the industrial products company’s stock after selling 703 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Deere & Company were worth $13,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Deere & Company during the 1st quarter worth $138,000. Sheets Smith Wealth Management acquired a new position in shares of Deere & Company in the 1st quarter valued at $257,000. Entropy Technologies LP acquired a new position in shares of Deere & Company in the 1st quarter valued at $1,637,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Deere & Company by 1.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 128,196 shares of the industrial products company’s stock valued at $52,655,000 after buying an additional 1,232 shares during the period. Finally, Koshinski Asset Management Inc. grew its holdings in shares of Deere & Company by 1.8% in the 1st quarter. Koshinski Asset Management Inc. now owns 24,773 shares of the industrial products company’s stock valued at $10,175,000 after buying an additional 427 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DE shares. Morgan Stanley decreased their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Truist Financial boosted their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

Shares of DE stock traded down $3.13 on Tuesday, reaching $399.52. The stock had a trading volume of 58,962 shares, compared to its average volume of 1,428,500. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm’s 50-day moving average is $403.35 and its two-hundred day moving average is $385.61. The firm has a market capitalization of $109.31 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.50 and a beta of 0.93. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the firm earned $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 25 EPS 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 paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is currently 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.