MetLife Investment Management LLC Cuts Stock Position in Deere & Company (NYSE:DE)

MetLife Investment Management LLC cut its position in Deere & Company (NYSE:DE) by 3.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,570 shares of the industrial products company’s stock after selling 2,407 shares during the quarter. MetLife Investment Management LLC’s holdings in Deere & Company were worth $27,782,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bayesian Capital Management LP acquired a new position in shares of Deere & Company during the first quarter worth $904,000. Coppell Advisory Solutions Corp. purchased a new stake in Deere & Company in the first quarter valued at about $404,000. Comerica Bank boosted its holdings in Deere & Company by 1.1% in the first quarter. Comerica Bank now owns 63,488 shares of the industrial products company’s stock worth $26,077,000 after acquiring an additional 667 shares in the last quarter. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Finally, WealthPlan Investment Management LLC increased its holdings in shares of Deere & Company by 6.9% during the first quarter. WealthPlan Investment Management LLC now owns 555 shares of the industrial products company’s stock valued at $228,000 after acquiring an additional 36 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of Deere & Company stock traded up $3.95 on Wednesday, reaching $464.99. The company’s stock had a trading volume of 67,749 shares, compared to its average volume of 1,448,652. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company 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. The stock has a 50-day moving average price of $409.62 and a 200-day moving average price of $386.98. Deere & Company has a 52-week low of $340.20 and a 52-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 for the quarter, topping 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 company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the business posted $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. Analysts expect that Deere & Company will post 20.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DE shares. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. 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 research report on Thursday, August 8th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $433.00.

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.