Penserra Capital Management LLC Decreases Holdings in Deere & Company (NYSE:DE)

Penserra Capital Management LLC lessened its position in Deere & Company (NYSE:DE - Free Report) by 99.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,220 shares of the industrial products company's stock after selling 172,041 shares during the period. Penserra Capital Management LLC's holdings in Deere & Company were worth $509,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DE. CMG Global Holdings LLC bought a new stake in Deere & Company in the 3rd quarter valued at $222,000. Cerity Partners LLC lifted its stake in shares of Deere & Company by 5.4% during the 3rd quarter. Cerity Partners LLC now owns 115,274 shares of the industrial products company's stock worth $48,110,000 after buying an additional 5,948 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Deere & Company by 3.6% during the 3rd quarter. Nicolet Advisory Services LLC now owns 3,089 shares of the industrial products company's stock worth $1,263,000 after buying an additional 107 shares during the period. Nwam LLC acquired a new position in Deere & Company in the 3rd quarter valued at about $903,000. Finally, Meridian Wealth Management LLC bought a new position in Deere & Company in the 3rd quarter valued at about $6,317,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 1.1 %

Shares of NYSE:DE traded up $4.96 during midday trading on Thursday, reaching $466.00. The company's stock had a trading volume of 1,258,787 shares, compared to its average volume of 1,454,089. The firm 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. 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 50 day moving average price of $410.91 and a two-hundred day moving average price of $387.53.

Deere & Company (NYSE:DE - Get Free Report) last posted its 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. The business had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business's revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the prior year, the company posted $8.26 EPS. As a group, analysts forecast that Deere & Company will post 20.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DE shares. 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. Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft cut 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. Barclays raised their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Finally, Oppenheimer increased their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a research 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 company's stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of "Hold" and a consensus target price 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.