Cadence Bank Lowers Stake in Deere & Company (NYSE:DE)

Cadence Bank cut its stake in Deere & Company (NYSE:DE) by 9.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,969 shares of the industrial products company’s stock after selling 307 shares during the quarter. Cadence Bank’s holdings in Deere & Company were worth $1,239,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Sanibel Captiva Trust Company Inc. grew its stake in shares of Deere & Company by 2.5% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 9,119 shares of the industrial products company’s stock worth $3,746,000 after acquiring an additional 221 shares during the last quarter. Atria Investments Inc grew its position in Deere & Company by 4.6% during the 1st quarter. Atria Investments Inc now owns 17,181 shares of the industrial products company’s stock worth $7,050,000 after purchasing an additional 763 shares during the last quarter. Cetera Investment Advisers increased its stake in Deere & Company by 398.2% during the 1st quarter. Cetera Investment Advisers now owns 129,927 shares of the industrial products company’s stock valued at $53,366,000 after purchasing an additional 103,850 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Deere & Company by 26.8% in the first quarter. Cetera Advisors LLC now owns 65,708 shares of the industrial products company’s stock worth $26,989,000 after buying an additional 13,903 shares during the last quarter. Finally, Cetera Advisor Networks LLC lifted its stake in shares of Deere & Company by 2.5% during the first quarter. Cetera Advisor Networks LLC now owns 48,693 shares of the industrial products company’s stock worth $20,000,000 after buying an additional 1,170 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 1.1 %

Shares of DE stock opened at $466.00 on Thursday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The company has a market cap of $127.50 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.91 and a beta of 0.93. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock has a 50 day simple moving average of $410.91 and a 200-day simple moving average of $387.53.

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. On average, equities research analysts expect that Deere & Company will post 20.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer raised their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Twelve equities 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 has an average rating of “Hold” and an average 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.