Fmr LLC Purchases 988,380 Shares of Deere & Company (NYSE:DE)

FMR LLC lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 27.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,542,013 shares of the industrial products company's stock after acquiring an additional 988,380 shares during the quarter. FMR LLC owned 1.66% of Deere & Company worth $1,895,518,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its position in shares of Deere & Company by 20.5% in 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 in the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of Deere & Company by 53.8% in the third 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 third quarter worth $710,000. Douglass Winthrop Advisors LLC grew its holdings 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 valued at $114,017,000 after buying an additional 7,753 shares in the last quarter. Finally, Royal Fund Management LLC grew its holdings in shares of Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company's stock valued at $2,694,000 after buying an additional 3,223 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $4.96 during midday trading on Wednesday, hitting $466.00. The company's stock had a trading volume of 1,258,681 shares, compared to its average volume of 1,454,089. 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 stock's 50 day simple moving average is $410.91 and its 200 day simple moving average is $387.53. The stock has a market capitalization of $127.50 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.91 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $9.20 billion. During the same quarter last year, the firm posted $8.26 EPS. The company's revenue was down 32.8% on a year-over-year basis. As a group, research analysts anticipate that Deere & Company will post 20.23 earnings per share for the current year.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Hsbc Global Res cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, August 19th. Morgan Stanley upped their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their target price 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. Finally, BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They set a "market perform" rating and a $400.00 price target on the stock. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $433.00.

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.