Prospera Financial Services Inc Has $4.84 Million Stock Position in Deere & Company (NYSE:DE)

Prospera Financial Services Inc lessened its holdings in shares of Deere & Company (NYSE:DE) by 35.2% in the third quarter, Holdings Channel.com reports. The fund owned 11,586 shares of the industrial products company’s stock after selling 6,307 shares during the quarter. Prospera Financial Services Inc’s holdings in Deere & Company were worth $4,839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mattern Wealth Management LLC increased its stake in Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares in the last quarter. Carret Asset Management LLC increased its holdings in shares of Deere & Company by 0.3% in the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after acquiring an additional 25 shares in the last quarter. Round Rock Advisors LLC lifted its holdings in shares of Deere & Company by 2.0% during the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 25 shares in the last quarter. Centaurus Financial Inc. grew its position in shares of Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after purchasing an additional 26 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. grew its position in shares of Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after purchasing an additional 26 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley lowered their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Bank of America increased their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

Shares of DE stock opened at $400.13 on Wednesday. The company has a fifty day moving average price of $404.63 and a two-hundred day moving average price of $385.69. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The stock has a market cap of $109.47 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company Announces Dividend

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

Deere & Company Company Profile

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.