Paloma Partners Management Co Sells 5,560 Shares of Deere & Company (NYSE:DE)

Paloma Partners Management Co lessened its position in Deere & Company (NYSE:DE) by 60.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,700 shares of the industrial products company’s stock after selling 5,560 shares during the period. Paloma Partners Management Co’s holdings in Deere & Company were worth $1,544,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Mattern Wealth Management LLC lifted its position in Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 25 shares in the last quarter. Carret Asset Management LLC lifted its holdings in Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares during the last quarter. Round Rock Advisors LLC grew its holdings in Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after buying an additional 25 shares in the last quarter. Centaurus Financial Inc. raised its position in shares of Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. raised its holdings in Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after acquiring an additional 26 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. 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. Truist Financial boosted their price target on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Finally, UBS Group raised their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $436.41.

Deere & Company Price Performance

Shares of DE opened at $462.70 on Tuesday. The stock has a market capitalization of $126.59 billion, a PE ratio of 18.07, a PEG ratio of 1.99 and a beta of 0.93. The company has a 50 day moving average price of $413.25 and a 200-day moving average price of $388.13. 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 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 data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the company posted $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 19.52 earnings per share 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.