BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Position in Deere & Company (NYSE:DE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Deere & Company (NYSE:DE - Free Report) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,686 shares of the industrial products company's stock after selling 6,967 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Deere & Company were worth $18,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DE. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the second quarter valued at $26,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 3rd quarter worth about $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the 2nd quarter valued at about $37,000. 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 buying an additional 84 shares during the period. Finally, Briaud Financial Planning Inc grew its position in shares of Deere & Company by 73.5% during the second quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company's stock worth $44,000 after buying an additional 50 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE traded down $0.10 during trading on Friday, reaching $465.90. The company's stock had a trading volume of 732,229 shares, compared to its average volume of 1,519,499. The business's fifty day moving average price is $413.25 and its 200-day moving average price is $388.13. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a market cap of $127.47 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 1.99 and a beta of 0.93.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.20 billion. During the same quarter in the previous year, the firm posted $8.26 EPS. The firm's revenue for the quarter was down 32.8% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 19.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on DE. BMO Capital Markets began 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 on the stock. UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. Truist Financial increased their target price on Deere & Company from $496.00 to $538.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Deere & Company from $420.00 to $450.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus 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.