Fmr LLC Boosts Stake in Deere & Company (NYSE:DE)

Fmr LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 27.8% during the third quarter, Holdings Channel reports. The fund owned 4,542,013 shares of the industrial products company’s stock after purchasing an additional 988,380 shares during the quarter. Fmr LLC’s holdings in Deere & Company were worth $1,895,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its stake in Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp raised its stake in shares of Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Balentine LLC acquired a new stake in shares of Deere & Company in the 3rd quarter valued at about $710,000. Douglass Winthrop Advisors LLC lifted its position in shares of Deere & Company by 2.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 273,207 shares of the industrial products company’s stock worth $114,017,000 after purchasing an additional 7,753 shares during the last quarter. Finally, Royal Fund Management LLC grew its stake in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after purchasing an additional 3,223 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on DE shares. Oppenheimer upped their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $433.00.

Deere & Company Stock Performance

Shares of DE stock opened at $461.15 on Wednesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm has a market capitalization of $126.17 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The business has a 50 day simple moving average of $409.62 and a 200 day simple moving average of $386.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 EPS. On average, equities research analysts anticipate that Deere & Company will post 21.31 EPS for the current year.

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.