ProShare Advisors LLC Acquires 3,750 Shares of Deere & Company $DE

ProShare Advisors LLC grew its holdings in Deere & Company (NYSE:DEFree Report) by 8.8% during the fourth quarter, Holdings Channel reports. The firm owned 46,429 shares of the industrial products company’s stock after acquiring an additional 3,750 shares during the quarter. ProShare Advisors LLC’s holdings in Deere & Company were worth $21,616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Advocates LLC bought a new stake in Deere & Company in the third quarter worth approximately $25,000. Key Capital Management INC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $27,000. Activest Wealth Management boosted its holdings in shares of Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after buying an additional 27 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $561.14 on Thursday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The business has a 50 day moving average price of $579.04 and a 200-day moving average price of $539.38. The company has a market cap of $151.57 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm earned $3.19 earnings per share. Equities analysts anticipate that Deere & Company will post 18.01 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were paid a dividend of $1.62 per share. The ex-dividend date was Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating and set a $765.00 target price on shares of Deere & Company in a research report on Monday, February 23rd. Morgan Stanley raised their price target on shares of Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Truist Financial increased their price objective on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Argus boosted their target price on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $715.00 price target on shares of Deere & Company in a report on Friday, February 20th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $655.45.

Read Our Latest Report on DE

Deere & Company News Summary

Here are the key news stories impacting Deere & Company this week:

About Deere & Company

(Free Report)

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.

Further Reading

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

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