Kingfisher Capital LLC Decreases Position in Deere & Company (NYSE:DE)

Kingfisher Capital LLC trimmed its position in Deere & Company (NYSE:DE) by 5.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,025 shares of the industrial products company’s stock after selling 650 shares during the quarter. Kingfisher Capital LLC’s holdings in Deere & Company were worth $4,601,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DE. FMR LLC boosted its stake in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after acquiring an additional 988,380 shares during the last quarter. Legal & General Group Plc lifted its holdings in Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after purchasing an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after buying an additional 158,732 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Deere & Company by 5.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock valued at $722,733,000 after buying an additional 85,401 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Deere & Company stock opened at $466.00 on Friday. The company’s 50 day simple moving average is $412.04 and its 200-day simple moving average is $388.07. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The company has a market capitalization of $127.50 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.99 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the firm earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, equities research analysts expect that Deere & Company will post 19.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Evercore ISI boosted their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Truist Financial raised their target price on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.