BNP Paribas Grows Holdings in Deere & Company (NYSE:DE)

BNP Paribas boosted its position in Deere & Company (NYSE:DE - Free Report) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,035 shares of the industrial products company's stock after purchasing an additional 1,324 shares during the quarter. Deere & Company comprises about 1.2% of BNP Paribas' holdings, making the stock its 24th largest position. BNP Paribas' holdings in Deere & Company were worth $30,097,000 at the end of the most recent reporting period.

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

Deere & Company Stock Up 1.1 %

Shares of DE traded up $4.96 during mid-day trading on Wednesday, reaching $466.00. 1,258,681 shares of the stock traded hands, compared to its average volume of 1,454,089. The stock has a fifty day simple moving average of $409.62 and a 200 day simple moving average of $386.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The firm has a market cap of $127.50 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 1.91 and a beta of 0.93.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the firm posted $8.26 EPS. The firm's quarterly revenue was down 32.8% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 20.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DE. Oppenheimer lifted their price objective on Deere & Company from $448.00 to $477.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. UBS Group lifted their price target on Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a "market perform" rating and a $400.00 target price for the company. Finally, Citigroup increased their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and a consensus price target of $433.00.

About Deere & Company

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.