Deere & Company (NYSE:DE) Stake Lowered by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairscale Capital LLC bought a new stake in Deere & Company in the second quarter worth $26,000. Pineridge Advisors LLC boosted its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory bought a new stake in Deere & Company during the third quarter valued at about $32,000. Olistico Wealth LLC acquired a new stake in shares of Deere & Company in the second quarter valued at about $37,000. Finally, Centennial Bank AR grew its position in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE traded down $3.13 during trading on Tuesday, reaching $399.52. The stock had a trading volume of 58,962 shares, compared to its average volume of 1,428,500. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The business’s 50-day moving average price is $403.35 and its 200 day moving average price is $385.61. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock has a market capitalization of $109.31 billion, a PE ratio of 13.74, a P/E/G ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted 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 during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 earnings per share. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 25 earnings per share for the current 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 issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analysts Forecast Growth

DE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley lowered their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $420.69.

About Deere & Company

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.