BNP Paribas Buys 1,324 Shares of Deere & Company (NYSE:DE)

BNP Paribas increased its position in Deere & Company (NYSE:DE) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,035 shares of the industrial products company’s stock after acquiring an additional 1,324 shares during the quarter. Deere & Company comprises about 1.2% of BNP Paribas’ holdings, making the stock its 24th biggest holding. BNP Paribas’ holdings in Deere & Company were worth $30,097,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Mattern Wealth Management LLC raised its position in shares of Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares during the period. Carret Asset Management LLC increased its stake in Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares in the last quarter. Round Rock Advisors LLC raised its holdings in Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 25 shares during the period. Centaurus Financial Inc. raised its holdings in Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after acquiring an additional 26 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. lifted its position in shares of Deere & Company by 0.7% in the third 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. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $461.15 on Wednesday. The business’s 50 day moving average price is $409.62 and its 200-day moving average price is $386.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a market cap of $126.17 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.91 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.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the business posted $8.26 earnings per share. The business’s revenue was down 32.8% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 20.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $433.00.

Deere & Company 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.