Prospera Financial Services Inc Invests $492,000 in Deere & Company (NYSE:DE)

Prospera Financial Services Inc bought a new position in shares of Deere & Company (NYSE:DE) during the second quarter, Holdings Channel.com reports. The fund bought 3,289 shares of the industrial products company’s stock, valued at approximately $492,000.

Several other large investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. purchased a new stake in Deere & Company in the 2nd quarter valued at $28,000. Arcus Capital Partners LLC purchased a new stake in Deere & Company in the 2nd quarter valued at $33,000. Orrstown Financial Services Inc. raised its position in Deere & Company by 116.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock valued at $36,000 after buying an additional 116 shares during the last quarter. Nelson Roberts Investment Advisors LLC raised its position in Deere & Company by 34.8% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $45,000 after buying an additional 70 shares during the last quarter. Finally, Heritage Wealth Advisors purchased a new stake in Deere & Company in the 2nd quarter valued at $47,000. 67.53% of the stock is currently owned by institutional investors.

Shares of NYSE:DE opened at $164.52 on Wednesday. The company has a market capitalization of $51.80 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 2.37 and a beta of 1.15. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.73. The business has a fifty day moving average price of $155.47 and a two-hundred day moving average price of $157.52. Deere & Company has a 1 year low of $128.32 and a 1 year high of $171.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.09). The business had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $9.38 billion. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 EPS. Sell-side analysts anticipate that Deere & Company will post 9.98 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.85%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.

DE has been the subject of a number of analyst reports. Stephens initiated coverage on Deere & Company in a research report on Wednesday, August 14th. They issued an “equal weight” rating and a $160.00 price target for the company. Bank of America lowered their price target on Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, August 19th. UBS Group lowered their price target on Deere & Company from $167.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Deutsche Bank lowered their price target on Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $197.00 price target (up from $176.00) on shares of Deere & Company in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Deere & Company has an average rating of “Hold” and an average price target of $166.89.

In other news, COO John C. May II sold 16,468 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the completion of the transaction, the chief operating officer now owns 60,550 shares in the company, valued at approximately $9,882,365.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John C. May II sold 5,228 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $170.00, for a total value of $888,760.00. Following the transaction, the chief operating officer now owns 49,310 shares of the company’s stock, valued at approximately $8,382,700. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Deere & Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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

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