NorthCrest Asset Manangement LLC Boosts Holdings in Deere & Company (NYSE:DE)

NorthCrest Asset Manangement LLC boosted its position in shares of Deere & Company (NYSE:DE) by 0.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 50,570 shares of the industrial products company’s stock after buying an additional 318 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Deere & Company were worth $21,427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pineridge Advisors LLC boosted its stake in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the period. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the fourth quarter valued at $34,000. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $35,000. Finally, Dogwood Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $42,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Morgan Stanley lifted their price objective on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. DA Davidson restated a “buy” rating and issued a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Robert W. Baird lifted their price objective on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Barclays boosted their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven 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 $516.75.

Deere & Company Trading Down 0.2%

Shares of NYSE:DE opened at $509.20 on Wednesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. 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. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The business’s 50 day moving average price is $473.84 and its 200-day moving average price is $460.21.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $8.53 EPS. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

About Deere & Company

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.