Prospera Financial Services Inc Raises Position in Deere & Company $DE

Prospera Financial Services Inc boosted its position in Deere & Company (NYSE:DE) by 51.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,714 shares of the industrial products company’s stock after purchasing an additional 6,687 shares during the period. Prospera Financial Services Inc’s holdings in Deere & Company were worth $10,031,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of Deere & Company during the 1st quarter worth $571,073,000. TD Asset Management Inc boosted its position in Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after purchasing an additional 410,636 shares during the period. Voya Investment Management LLC increased its stake in shares of Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after purchasing an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares during the period. Finally, Invesco Ltd. boosted its holdings in Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after buying an additional 256,806 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of NYSE DE opened at $466.98 on Friday. The stock’s 50-day moving average is $465.84 and its 200 day moving average is $490.08. The stock has a market cap of $126.24 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 3.05 and a beta of 1.04. 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.

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

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on DE. Truist Financial raised their price target on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a report on Tuesday, August 19th. Jefferies Financial Group cut their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Citigroup decreased their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Finally, UBS Group reiterated a “buy” rating on shares of Deere & Company in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $518.72.

About Deere & Company

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.