Prospera Financial Services Inc Reduces Holdings in Deere & Company (NYSE:DE)

Prospera Financial Services Inc lowered its holdings in Deere & Company (NYSE:DEGet Rating) by 21.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,222 shares of the industrial products company’s stock after selling 1,979 shares during the quarter. Prospera Financial Services Inc’s holdings in Deere & Company were worth $3,002,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its position in Deere & Company by 0.9% during the 4th quarter. State Street Corp now owns 11,613,684 shares of the industrial products company’s stock valued at $3,994,236,000 after buying an additional 102,269 shares in the last quarter. Norges Bank bought a new position in Deere & Company during the 4th quarter valued at approximately $959,748,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Deere & Company by 27.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,783,591 shares of the industrial products company’s stock worth $952,127,000 after purchasing an additional 593,336 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Deere & Company by 8.8% in the 4th quarter. Invesco Ltd. now owns 1,654,765 shares of the industrial products company’s stock worth $567,402,000 after purchasing an additional 133,861 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Deere & Company by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,318,857 shares of the industrial products company’s stock worth $452,223,000 after purchasing an additional 24,521 shares in the last quarter. Hedge funds and other institutional investors own 67.35% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $325.71 on Thursday. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.07 and a quick ratio of 1.76. Deere & Company has a 12 month low of $283.81 and a 12 month high of $446.76. The firm has a market capitalization of $99.55 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08. The business’s 50 day simple moving average is $323.68 and its 200-day simple moving average is $366.78.

Deere & Company (NYSE:DEGet Rating) last released its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 EPS for the quarter, topping analysts’ consensus estimates of $6.65 by $0.16. Deere & Company had a return on equity of 33.58% and a net margin of 12.99%. The business had revenue of $12.03 billion during the quarter, compared to the consensus estimate of $13.16 billion. During the same period in the prior year, the firm posted $5.68 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 23.3 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Thursday, June 30th will be given a dividend of $1.13 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $4.52 annualized dividend and a dividend yield of 1.39%. Deere & Company’s dividend payout ratio (DPR) is presently 23.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. DA Davidson dropped their price target on Deere & Company from $480.00 to $445.00 and set a “buy” rating on the stock in a research note on Monday, May 23rd. The Goldman Sachs Group lowered their price objective on Deere & Company from $480.00 to $420.00 and set a “buy” rating on the stock in a research report on Monday, May 23rd. Robert W. Baird reduced their target price on Deere & Company from $487.00 to $442.00 and set an “outperform” rating on the stock in a report on Sunday, May 22nd. Credit Suisse Group set a $393.00 target price on Deere & Company in a report on Tuesday, July 19th. Finally, Wells Fargo & Company reduced their price objective on Deere & Company from $455.00 to $410.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $399.56.

Insider Transactions at Deere & Company

In related news, insider John H. Stone sold 17,145 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $4,321.07, for a total transaction of $74,084,745.15. Following the sale, the insider now owns 21,087 shares in the company, valued at $91,118,403.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

About Deere & Company

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Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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