Proficio Capital Partners LLC Invests $1.04 Million in Deere & Company $DE

Proficio Capital Partners LLC purchased a new stake in Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,637 shares of the industrial products company’s stock, valued at approximately $1,038,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Anchyra Partners LLC lifted its position in Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 17 shares during the period. William B. Walkup & Associates Inc. grew its position in shares of Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after buying an additional 17 shares during the period. Advisortrust Partners LLC raised its stake in shares of Deere & Company by 2.0% during the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after buying an additional 18 shares during the last quarter. Cerro Pacific Wealth Advisors LLC lifted its holdings in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

DE stock opened at $633.36 on Thursday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The firm has a market cap of $170.97 billion, a PE ratio of 35.19, a P/E/G ratio of 2.60 and a beta of 0.90. The business’s 50-day moving average price is $610.13 and its two-hundred day moving average price is $592.80.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.Deere & Company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.75 earnings per share. As a group, research analysts forecast that Deere & Company will post 18.09 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial lowered their target price on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a report on Monday. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday. Raymond James Financial cut their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Finally, UBS Group reduced their target price on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $653.48.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.