Cynosure Group LLC Sells 94 Shares of Deere & Company (NYSE:DE)

Cynosure Group LLC cut its holdings in shares of Deere & Company (NYSE:DE) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 909 shares of the industrial products company’s stock after selling 94 shares during the quarter. Cynosure Group LLC’s holdings in Deere & Company were worth $379,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC increased its holdings in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Deere & Company by 53,338.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares during the period. International Assets Investment Management LLC lifted its stake in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares during the last quarter. Mawer Investment Management Ltd. bought a new position in Deere & Company during the second quarter worth about $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Deere & Company during the third quarter worth approximately $136,936,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DE shares. UBS Group raised their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $436.41.

Deere & Company Stock Performance

DE opened at $466.00 on Friday. 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 52-week low of $340.20 and a 52-week high of $469.39. The firm has a market cap of $127.50 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.91 and a beta of 0.93. The business’s fifty day moving average is $412.04 and its 200-day moving average is $388.07.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) 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 firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the company posted $8.26 earnings per share. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 20.23 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.