Prudent Man Advisors LLC Sells 206 Shares of Deere & Company $DE

Prudent Man Advisors LLC lessened its stake in Deere & Company (NYSE:DE) by 10.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,741 shares of the industrial products company’s stock after selling 206 shares during the period. Prudent Man Advisors LLC’s holdings in Deere & Company were worth $885,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DE. Nuveen LLC bought a new stake in shares of Deere & Company in the 1st quarter valued at about $571,073,000. TD Asset Management Inc grew its position in shares of Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after buying an additional 410,636 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after buying an additional 361,526 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after purchasing an additional 256,806 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of several research analyst reports. Robert W. Baird cut their target price on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Jefferies Financial Group cut their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Royal Bank Of Canada initiated coverage on Deere & Company in a research report on Wednesday. They set an “outperform” rating and a $542.00 target price on the stock. Oppenheimer cut their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. Finally, Truist Financial upped their target price on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Stock Up 0.8%

Shares of NYSE:DE opened at $473.01 on Friday. The business’s 50 day simple moving average is $469.88 and its two-hundred day simple moving average is $489.02. The firm has a market cap of $127.87 billion, a P/E ratio of 24.73, a PEG ratio of 3.04 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.29 earnings per share. As a group, research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.