Baldwin Investment Management LLC Cuts Position in Deere & Company (NYSE:DE)

Baldwin Investment Management LLC lessened its holdings in Deere & Company (NYSE:DE - Free Report) by 41.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,721 shares of the industrial products company's stock after selling 1,887 shares during the quarter. Baldwin Investment Management LLC's holdings in Deere & Company were worth $1,136,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company's stock valued at $27,000 after buying an additional 58 shares during the period. Fairscale Capital LLC bought a new position in Deere & Company during the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 3rd quarter worth approximately $32,000. Olistico Wealth LLC acquired a new position in shares of Deere & Company in the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR boosted its stake in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. HSBC lowered Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Oppenheimer lifted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Morgan Stanley upped their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday. Barclays raised their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They set a "market perform" rating and a $400.00 price objective for the company. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of "Hold" and a consensus target price of $433.00.

Deere & Company Price Performance

NYSE:DE traded up $4.96 during trading hours on Wednesday, hitting $466.00. The stock had a trading volume of 1,258,681 shares, compared to its average volume of 1,454,089. The company has a 50 day simple moving average of $410.91 and a two-hundred day simple moving average of $387.53. The firm has a market capitalization of $127.50 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 1.91 and a beta of 0.93. 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 has a one year low of $340.20 and a one year high of $469.39.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm's revenue was down 32.8% compared to the same quarter last year. During the same quarter last year, the business posted $8.26 earnings per share. Research analysts forecast that Deere & Company will post 20.23 earnings per share for the current fiscal year.

Deere & 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.