Deere & Company (NYSE:DE) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership reduced its holdings in shares of Deere & Company (NYSE:DE) by 9.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,375 shares of the industrial products company’s stock after selling 10,190 shares during the quarter. Deere & Company makes up 1.0% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 29th largest position. Prio Wealth Limited Partnership’s holdings in Deere & Company were worth $34,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in shares of Deere & Company during the 1st quarter worth approximately $191,628,000. Mawer Investment Management Ltd. purchased a new position in Deere & Company during the second quarter worth $166,937,000. Dimensional Fund Advisors LP raised its holdings in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in shares of Deere & Company by 28,306.5% during the second quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock valued at $934,000 after acquiring an additional 249,097 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.2 %

Shares of NYSE:DE opened at $416.47 on Wednesday. The stock has a 50-day simple moving average of $381.16 and a 200-day simple moving average of $384.65. The stock has a market capitalization of $114.77 billion, a P/E ratio of 12.54, a PEG ratio of 1.36 and a beta of 0.92. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. 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 (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share 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 firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the company posted $10.20 earnings per share. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DE. Oppenheimer cut their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Raymond James assumed coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup lowered their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $410.50.

Deere & Company 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.