Beacon Investment Advisory Services Inc. Decreases Stake in Deere & Company (NYSE:DE)

Beacon Investment Advisory Services Inc. lowered its position in Deere & Company (NYSE:DE) by 24.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,506 shares of the industrial products company’s stock after selling 500 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Deere & Company were worth $628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Legal & General Group Plc raised its holdings 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 acquiring an additional 60,255 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 279,627 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Deere & Company by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after acquiring an additional 158,732 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Deere & Company by 5.2% during the 3rd 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 worth $722,733,000 after acquiring an additional 85,401 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DE shares. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Bank of America lifted their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Truist Financial lifted their price target on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Oppenheimer raised their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” 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, the company currently has a consensus rating of “Hold” and a consensus target price of $436.41.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $462.70 on Tuesday. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a market cap of $126.59 billion, a PE ratio of 18.07, a P/E/G ratio of 1.99 and a beta of 0.93. 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 business has a 50-day simple moving average of $413.25 and a 200-day simple moving average of $388.13.

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, topping the consensus estimate of $3.90 by $0.65. The firm had revenue of $9.28 billion during 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 revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.26 earnings per share. On average, equities research analysts forecast that Deere & Company will post 19.52 EPS for the current fiscal year.

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.