Penserra Capital Management LLC Has $509,000 Holdings in Deere & Company (NYSE:DE)

Penserra Capital Management LLC decreased its holdings in shares of Deere & Company (NYSE:DE) by 99.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,220 shares of the industrial products company’s stock after selling 172,041 shares during the quarter. Penserra Capital Management LLC’s holdings in Deere & Company were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Legal & General Group Plc raised its stake in shares of Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Deere & Company by 11.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock valued at $559,901,000 after acquiring an additional 139,336 shares during the last quarter. Markel Group Inc. grew its position in shares of Deere & Company by 2.8% in the 3rd quarter. Markel Group Inc. now owns 869,100 shares of the industrial products company’s stock valued at $362,702,000 after acquiring an additional 23,750 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Deere & Company by 6.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 860,167 shares of the industrial products company’s stock worth $358,973,000 after purchasing an additional 49,211 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $466.00 on Thursday. The business has a fifty day moving average price of $410.91 and a two-hundred day moving average price of $387.53. The stock has a market capitalization of $127.50 billion, a PE ratio of 18.20, a P/E/G ratio of 1.91 and a beta of 0.93. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.26 earnings per share. As a group, equities analysts predict that Deere & Company will post 20.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DE shares. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday. Barclays lifted their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer increased their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Citigroup lifted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $436.41.

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.