ProShare Advisors LLC Purchases 4,837 Shares of Deere & Company $DE

ProShare Advisors LLC lifted its position in shares of Deere & Company (NYSE:DE) by 12.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,702 shares of the industrial products company’s stock after purchasing an additional 4,837 shares during the period. ProShare Advisors LLC’s holdings in Deere & Company were worth $22,222,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Profund Advisors LLC boosted its stake in shares of Deere & Company by 19.7% in the 2nd quarter. Profund Advisors LLC now owns 3,159 shares of the industrial products company’s stock worth $1,606,000 after buying an additional 521 shares during the last quarter. Zions Bancorporation National Association UT lifted its holdings in Deere & Company by 21.1% during the second quarter. Zions Bancorporation National Association UT now owns 527 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 92 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its position in Deere & Company by 2.3% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,573 shares of the industrial products company’s stock worth $1,308,000 after purchasing an additional 59 shares during the last quarter. Summit Asset Management LLC grew its stake in Deere & Company by 15.2% in the 2nd quarter. Summit Asset Management LLC now owns 3,803 shares of the industrial products company’s stock valued at $1,934,000 after purchasing an additional 503 shares during the period. Finally, Midwest Trust Co bought a new position in Deere & Company in the 2nd quarter valued at $21,296,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 0.7%

Shares of DE stock opened at $477.70 on Wednesday. The stock has a market capitalization of $129.14 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 3.05 and a beta of 1.04. The company’s fifty day simple moving average is $465.79 and its two-hundred day simple moving average is $490.77. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

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

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is currently 33.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DE shares. Royal Bank Of Canada began coverage on Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price on the stock. Daiwa Capital Markets lowered their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. Truist Financial raised their price target on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $518.72.

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.