Townsquare Capital LLC lifted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 26.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,354 shares of the industrial products company's stock after acquiring an additional 1,319 shares during the quarter. Townsquare Capital LLC's holdings in Deere & Company were worth $2,652,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. grew its stake in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company's stock worth $5,906,000 after acquiring an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp boosted its position in shares of Deere & Company by 53.8% during 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 buying an additional 1,400 shares during the last quarter. Balentine LLC purchased a new stake in shares of Deere & Company during the third quarter valued at $710,000. Douglass Winthrop Advisors LLC boosted its position 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 during the last quarter. Finally, Royal Fund Management LLC boosted its position 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 during the last quarter. Institutional investors own 68.58% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on DE shares. Hsbc Global Res cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. 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. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They issued a "market perform" rating and a $400.00 target price on the stock. Finally, UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Twelve 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 stock presently has a consensus rating of "Hold" and a consensus price target of $436.41.
Check Out Our Latest Stock Report on Deere & Company
Deere & Company Stock Performance
DE stock traded down $0.10 during trading on Friday, hitting $465.90. The company had a trading volume of 732,229 shares, compared to its average volume of 1,519,499. The firm has a market cap of $127.47 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.99 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The firm has a 50-day moving average price of $413.25 and a 200-day moving average price of $388.31. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.
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, topping the consensus estimate of $3.90 by $0.65. The company had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm's quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 EPS. On average, analysts expect that Deere & Company will post 19.52 earnings per share for the current year.
About Deere & Company
(
Free Report)
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.
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