Prime Capital Investment Advisors LLC Buys 3,977 Shares of Deere & Company $DE

Key Points

• Prime Capital Investment Advisors increased its Deere & Company stake by 28.9% in the third quarter, purchasing 3,977 shares and bringing its holdings to 17,731 shares valued at approximately $11.9 million.
• Deere reported quarterly EPS of $5.10, exceeding estimates of $4.69, while revenue rose 6.2% year over year to $12.61 billion. The company also declared a quarterly dividend of $1.62 per share.
• Analysts maintain a favorable outlook, with Deere carrying a “Moderate Buy” consensus rating and an average price target of $688.10; institutional investors collectively own 68.58% of the stock.

Prime Capital Investment Advisors LLC increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 28.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 17,731 shares of the industrial products company's stock after purchasing an additional 3,977 shares during the period. Prime Capital Investment Advisors LLC's holdings in Deere & Company were worth $11,907,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DE. Boyd Wealth Management LLC boosted its holdings in Deere & Company by 10.6% in the 3rd quarter. Boyd Wealth Management LLC now owns 1,544 shares of the industrial products company's stock valued at $1,037,000 after purchasing an additional 148 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Deere & Company by 1.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,344 shares of the industrial products company's stock valued at $24,407,000 after purchasing an additional 389 shares in the last quarter. CWA Asset Management Group LLC grew its position in shares of Deere & Company by 0.4% during the 3rd quarter. CWA Asset Management Group LLC now owns 23,767 shares of the industrial products company's stock valued at $15,961,000 after purchasing an additional 88 shares in the last quarter. Grandview Asset Management LLC bought a new position in shares of Deere & Company in the third quarter worth $366,000. Finally, Smithbridge Asset Management Inc. DE increased its holdings in shares of Deere & Company by 7.7% in the third quarter. Smithbridge Asset Management Inc. DE now owns 5,980 shares of the industrial products company's stock worth $4,016,000 after purchasing an additional 425 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

NYSE:DE opened at $632.44 on Wednesday. The business has a 50 day moving average of $658.72 and a 200 day moving average of $613.10. The company has a market capitalization of $170.52 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 2.29 and a beta of 0.86. Deere & Company has a 1-year low of $454.50 and a 1-year high of $721.22. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the firm earned $4.75 earnings per share. Deere & Company's revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company's payout ratio is 36.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group lowered their price objective on Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a research report on Friday, August 21st. Evercore raised Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price objective for the company in a research note on Wednesday, September 2nd. DA Davidson boosted their target price on Deere & Company from $685.00 to $760.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Oppenheimer upped their target price on Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a research note on Thursday, August 20th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $585.00 to $625.00 and gave the stock a "neutral" rating in a research note on Thursday, October 8th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Moderate Buy" and a consensus price target of $688.10.

About Deere & Company

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.

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