FORA Capital LLC Acquires Shares of 17,551 Deere & Company (NYSE:DE)

FORA Capital LLC bought a new position in Deere & Company (NYSE:DE) in the third quarter, HoldingsChannel reports. The firm bought 17,551 shares of the industrial products company’s stock, valued at approximately $7,325,000. Deere & Company accounts for 0.9% of FORA Capital LLC’s holdings, making the stock its 28th largest holding.

Several other large investors have also recently modified their holdings of DE. Oppenheimer Asset Management Inc. grew its holdings in Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after purchasing 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 period. Balentine LLC bought a new position in shares of Deere & Company during the third quarter valued at approximately $710,000. Douglass Winthrop Advisors LLC raised its holdings in shares of Deere & Company by 2.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 273,207 shares of the industrial products company’s stock worth $114,017,000 after buying an additional 7,753 shares during the period. Finally, Royal Fund Management LLC lifted its stake in shares of Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after acquiring 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 analysts have commented on the company. Truist Financial upped their price objective on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Oppenheimer boosted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $433.00.

Deere & Company Stock Performance

Shares of DE traded up $3.94 during mid-day trading on Wednesday, reaching $464.98. The company had a trading volume of 149,780 shares, compared to its average volume of 1,449,023. The stock has a market capitalization of $127.22 billion, a P/E ratio of 18.01, a PEG ratio of 1.91 and a beta of 0.93. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The stock has a 50 day moving average of $409.62 and a two-hundred day moving average of $386.98. 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) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The company 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% on a year-over-year basis. During the same period in the previous year, the company posted $8.26 earnings per share. On average, analysts expect that Deere & Company will post 20.23 earnings per share for the current 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.