Prospera Private Wealth LLC Buys New Position in Deere & Company (NYSE:DE)

Prospera Private Wealth LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,269 shares of the industrial products company’s stock, valued at approximately $5,120,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its holdings in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares during the last quarter. International Assets Investment Management LLC lifted its position in Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares during the period. Swedbank AB purchased a new position in shares of Deere & Company in the 1st quarter valued at approximately $191,628,000. Mawer Investment Management Ltd. acquired a new position in shares of Deere & Company in the second quarter valued at approximately $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Deere & Company in the third quarter valued at approximately $136,936,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 1.1 %

Shares of DE opened at $400.13 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The stock has a market cap of $109.47 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The firm has a 50 day simple moving average of $404.63 and a 200-day simple moving average of $385.69.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 20.06%.

Analysts Set New Price Targets

Several brokerages recently weighed in on DE. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Truist Financial boosted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley reduced their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, Citigroup boosted 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. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $420.69.

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.