Penserra Capital Management LLC Has $509,000 Stock Position in Deere & Company (NYSE:DE)

Penserra Capital Management LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 99.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,220 shares of the industrial products company’s stock after selling 172,041 shares during the period. Penserra Capital Management LLC’s holdings in Deere & Company were worth $509,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Fairscale Capital LLC bought a new position in shares of Deere & Company in the second quarter worth about $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company in the 3rd quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the second quarter valued at approximately $37,000. Centennial Bank AR boosted its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Deere & Company during the third quarter worth $47,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 1.1 %

Shares of DE stock opened at $466.00 on Thursday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a 50 day simple moving average of $410.91 and a two-hundred day simple moving average of $387.53. The company has a market cap of $127.50 billion, a P/E ratio of 18.20, a PEG ratio of 1.91 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its 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 for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.26 EPS. Research analysts forecast that Deere & Company will post 20.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DE. Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday. Evercore ISI boosted their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Bank of America upped their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Truist Financial lifted their target price 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. Finally, HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $436.41.

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.