Prio Wealth Limited Partnership Reduces Position in Deere & Company (NYSE:DE)

Prio Wealth Limited Partnership lowered its position in Deere & Company (NYSE:DE) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,886 shares of the industrial products company’s stock after selling 489 shares during the quarter. Deere & Company makes up approximately 1.1% of Prio Wealth Limited Partnership’s portfolio, making the stock its 27th biggest position. Prio Wealth Limited Partnership’s holdings in Deere & Company were worth $38,764,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of DE. Park Avenue Securities LLC increased its stake in Deere & Company by 4.3% in the first quarter. Park Avenue Securities LLC now owns 4,156 shares of the industrial products company’s stock valued at $1,707,000 after purchasing an additional 173 shares during the period. Salem Investment Counselors Inc. increased its position in Deere & Company by 4.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,504 shares of the industrial products company’s stock valued at $620,000 after acquiring an additional 67 shares during the period. Cooper Financial Group increased its position in Deere & Company by 2.4% in the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 27 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Deere & Company during the 1st quarter valued at approximately $184,000. Finally, Range Financial Group LLC lifted its position in Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 27 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Finally, Oppenheimer cut their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Twelve 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 company presently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

DE stock traded up $0.37 on Monday, reaching $409.10. The company had a trading volume of 142,014 shares, compared to its average volume of 1,464,062. The company’s fifty day moving average is $393.03 and its 200 day moving average is $385.26. The company has a market cap of $112.74 billion, a P/E ratio of 12.31, a PEG ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the business earned $10.20 earnings per share. On average, research analysts forecast that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio is currently 17.70%.

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.