Welch & Forbes LLC Acquires 136 Shares of Deere & Company (NYSE:DE)

Welch & Forbes LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 5,172 shares of the industrial products company’s stock after buying an additional 136 shares during the quarter. Welch & Forbes LLC’s holdings in Deere & Company were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. McIlrath & Eck LLC increased its position in Deere & Company by 170.4% in the second quarter. McIlrath & Eck LLC now owns 73 shares of the industrial products company’s stock worth $26,000 after buying an additional 46 shares during the last quarter. Delos Wealth Advisors LLC purchased a new stake in Deere & Company in the second quarter worth $26,000. Credit Agricole S A purchased a new position in shares of Deere & Company in the second quarter valued at $28,000. Newbridge Financial Services Group Inc. grew its position in shares of Deere & Company by 128.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 89 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Deere & Company in the second quarter valued at $33,000. Institutional investors and hedge funds own 75.35% of the company’s stock.

DE stock opened at $367.86 on Thursday. Deere & Company has a fifty-two week low of $250.54 and a fifty-two week high of $400.34. The business’s 50 day moving average price is $346.69 and its two-hundred day moving average price is $355.58. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.93 and a current ratio of 2.17. The company has a market capitalization of $114.06 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 0.74 and a beta of 1.08.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 24th. The industrial products company reported $4.12 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.25. The company had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.48 billion. Deere & Company had a return on equity of 37.60% and a net margin of 12.82%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.39 EPS. Sell-side analysts forecast that Deere & Company will post 18.85 earnings per share for the current year.

DE has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Deere & Company from $346.00 to $297.00 and set an “underweight” rating for the company in a research report on Monday, October 4th. Evercore ISI lowered Deere & Company from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $470.00 to $354.00 in a research note on Thursday, October 14th. Zacks Investment Research lowered Deere & Company from a “buy” rating to a “hold” rating and set a $375.00 price target for the company. in a research note on Friday, November 19th. Credit Suisse Group lifted their price target on Deere & Company from $439.00 to $440.00 and gave the stock an “outperform” rating in a research note on Monday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $383.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, November 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $382.63.

Deere & Company Company Profile

Deere & Co engages in the manufacturing 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 manufacturing of full line of agriculture and turf equipment and related service parts.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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