Prospera Financial Services Inc cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 35.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,586 shares of the industrial products company's stock after selling 6,307 shares during the period. Prospera Financial Services Inc's holdings in Deere & Company were worth $4,839,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of DE. Oppenheimer Asset Management Inc. lifted its holdings in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company's stock valued at $5,906,000 after acquiring an additional 2,692 shares during the period. Chase Investment Counsel Corp increased its position in shares of Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company's stock valued at $1,669,000 after purchasing an additional 1,400 shares during the last quarter. Balentine LLC purchased a new stake in shares of Deere & Company in the third quarter valued at $710,000. Royal Fund Management LLC lifted its stake in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company's stock worth $2,694,000 after purchasing an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC purchased a new position in Deere & Company during the 3rd quarter valued at $1,052,000. 68.58% of the stock is owned by institutional investors.
Deere & Company Price Performance
NYSE DE opened at $400.13 on Wednesday. The stock has a market capitalization of $109.47 billion, a PE ratio of 13.65, a P/E/G ratio of 1.52 and a beta of 0.93. The stock has a 50-day simple moving average of $404.63 and a 200 day simple moving average of $385.69. 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 twelve month low of $340.20 and a twelve month high of $420.47.
Deere & Company Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company's payout ratio is 20.06%.
Analysts Set New Price Targets
Several research analysts recently issued reports on DE shares. 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 objective on the stock. Morgan Stanley decreased 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 note on Monday, August 26th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Deere & Company from $402.00 to $389.00 and set a "hold" rating on the stock 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 note on Friday, October 11th. Finally, Hsbc Global Res cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $420.69.
Check Out Our Latest Analysis on DE
About Deere & Company
(
Free Report)
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.
Further Reading
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