Prudent Man Advisors LLC Buys 903 Shares of Deere & Company (NYSE:DE)

Prudent Man Advisors LLC increased its position in Deere & Company (NYSE:DE) by 69.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,203 shares of the industrial products company’s stock after buying an additional 903 shares during the period. Prudent Man Advisors LLC’s holdings in Deere & Company were worth $919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Claro Advisors LLC lifted its stake in shares of Deere & Company by 11.5% in the third quarter. Claro Advisors LLC now owns 1,293 shares of the industrial products company’s stock valued at $540,000 after buying an additional 133 shares in the last quarter. Obsidian Personal Planning Solutions LLC bought a new stake in shares of Deere & Company during the third quarter worth about $215,000. Tower Bridge Advisors raised its holdings in shares of Deere & Company by 21.3% in the 3rd quarter. Tower Bridge Advisors now owns 8,253 shares of the industrial products company’s stock worth $3,444,000 after acquiring an additional 1,450 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in Deere & Company in the 3rd quarter valued at about $344,000. Finally, Schear Investment Advisers LLC boosted its stake in Deere & Company by 16.5% during the 3rd quarter. Schear Investment Advisers LLC now owns 2,249 shares of the industrial products company’s stock valued at $939,000 after purchasing an additional 318 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DE. Evercore ISI increased their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Morgan Stanley dropped their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Bank of America lifted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Truist Financial increased their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

Deere & Company stock opened at $398.95 on Monday. The business’s 50 day simple moving average is $404.03 and its 200 day simple moving average is $385.64. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The company has a market cap of $109.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.52 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the company earned $10.20 EPS. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

About Deere & Company

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.