Baldwin Investment Management LLC Trims Position in Deere & Company (NYSE:DE)

Baldwin Investment Management LLC trimmed its stake in Deere & Company (NYSE:DE) by 41.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,721 shares of the industrial products company’s stock after selling 1,887 shares during the period. Baldwin Investment Management LLC’s holdings in Deere & Company were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in DE. Bayesian Capital Management LP bought a new position in shares of Deere & Company during the 1st quarter worth $904,000. Coppell Advisory Solutions Corp. bought a new position in Deere & Company during the 1st quarter worth about $404,000. Comerica Bank increased its position in Deere & Company by 1.1% during the 1st quarter. Comerica Bank now owns 63,488 shares of the industrial products company’s stock valued at $26,077,000 after purchasing an additional 667 shares during the period. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Finally, WealthPlan Investment Management LLC lifted its holdings in Deere & Company by 6.9% during the first quarter. WealthPlan Investment Management LLC now owns 555 shares of the industrial products company’s stock worth $228,000 after buying an additional 36 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE opened at $461.15 on Wednesday. The company has a market cap of $126.17 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.91 and a beta of 0.93. The firm’s fifty day simple moving average is $409.62 and its two-hundred day simple moving average is $386.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.26 earnings per share. Equities analysts anticipate that Deere & Company will post 20.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DE. Bank of America raised their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. 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 research note on Monday, August 19th. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Truist Financial boosted their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price 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.