UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 85,401 Shares of Deere & Company (NYSE:DE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Deere & Company (NYSE:DE) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,731,801 shares of the industrial products company’s stock after purchasing an additional 85,401 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.63% of Deere & Company worth $722,733,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Fiduciary Trust Co boosted its stake in shares of Deere & Company by 6.6% in the 3rd quarter. Fiduciary Trust Co now owns 10,530 shares of the industrial products company’s stock valued at $4,394,000 after purchasing an additional 648 shares during the last quarter. De Lisle Partners LLP boosted its stake in shares of Deere & Company by 15.0% in the 3rd quarter. De Lisle Partners LLP now owns 11,500 shares of the industrial products company’s stock valued at $4,799,000 after purchasing an additional 1,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Deere & Company by 5.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 126,790 shares of the industrial products company’s stock worth $52,913,000 after acquiring an additional 6,210 shares during the last quarter. Providence Capital Advisors LLC boosted its stake in Deere & Company by 1.1% during the 3rd quarter. Providence Capital Advisors LLC now owns 14,197 shares of the industrial products company’s stock worth $5,925,000 after acquiring an additional 151 shares during the last quarter. Finally, FORA Capital LLC bought a new position in Deere & Company during the 3rd quarter worth approximately $7,325,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $466.00 on Thursday. The firm has a market capitalization of $127.50 billion, a PE ratio of 18.20, a PEG ratio of 1.91 and a beta of 0.93. The company’s 50-day moving average is $410.91 and its 200-day moving average is $387.53. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week 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.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the company posted $8.26 earnings per share. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 20.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DE shares. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial lifted their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Oppenheimer lifted their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Twelve research 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, the stock has an average rating of “Hold” and an average price target of $436.41.

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.