Deere & Company (NYSE:DE) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in shares of Deere & Company (NYSE:DE) by 14.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,471 shares of the industrial products company’s stock after purchasing an additional 1,300 shares during the period. Public Sector Pension Investment Board’s holdings in Deere & Company were worth $4,370,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new position in Deere & Company in the third quarter worth approximately $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company during the second quarter worth $37,000. Centennial Bank AR raised its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in Deere & Company in the third quarter valued at $47,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Deere & Company stock opened at $462.70 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a fifty day simple moving average of $413.25 and a 200-day simple moving average of $388.13. The stock has a market cap of $126.59 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.99 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 EPS. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. Equities analysts expect that Deere & Company will post 19.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on DE shares. JPMorgan Chase & Co. raised their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Citigroup upped their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Oppenheimer lifted their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $436.41.

Deere & 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.