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

Prio Wealth Limited Partnership decreased its position in Deere & Company (NYSE:DE) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & 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 accounts for about 1.0% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 29th largest holding. Prio Wealth Limited Partnership’s holdings in Deere & Company were worth $34,888,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC grew its holdings in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the second quarter valued at about $26,000. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the fourth quarter worth about $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $416.47 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. The firm has a market capitalization of $114.77 billion, a PE ratio of 12.54, a P/E/G 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 business’s fifty day moving average price is $381.16 and its two-hundred day moving average price is $384.65.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 annualized dividend and a dividend yield of 1.41%. Deere & Company’s dividend payout ratio is presently 17.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Evercore ISI upped their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $410.50.

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.