Chancellor Financial Group WB LP Takes Position in Deere & Company (NYSE:DE)

Chancellor Financial Group WB LP acquired a new position in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,022 shares of the industrial products company’s stock, valued at approximately $857,000. Deere & Company comprises about 0.7% of Chancellor Financial Group WB LP’s investment portfolio, making the stock its 28th largest holding.

Several other institutional investors have also recently modified their holdings of the stock. NorthCrest Asset Manangement LLC raised its holdings in shares of Deere & Company by 0.6% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 50,570 shares of the industrial products company’s stock worth $21,427,000 after acquiring an additional 318 shares during the last quarter. Tableaux LLC acquired a new stake in shares of Deere & Company during the fourth quarter valued at $626,000. Old North State Trust LLC increased its position in Deere & Company by 11.9% during the 4th quarter. Old North State Trust LLC now owns 668 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 71 shares in the last quarter. Copia Wealth Management purchased a new stake in Deere & Company during the 4th quarter worth about $134,000. Finally, Wood Tarver Financial Group LLC acquired a new position in Deere & Company in the 4th quarter valued at about $43,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on DE. Morgan Stanley raised their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Robert W. Baird upped their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Raymond James lifted their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Finally, Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $516.75.

Deere & Company Trading Down 0.2%

NYSE:DE opened at $509.20 on Wednesday. The stock has a fifty day simple moving average of $473.84 and a 200 day simple moving average of $460.21. The firm has a market capitalization of $138.20 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the firm posted $8.53 earnings per share. Sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.