Fort Point Capital Partners LLC Buys New Holdings in Deere & Company (NYSE:DE)

Fort Point Capital Partners LLC bought a new stake in Deere & Company (NYSE:DEGet Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,293 shares of the industrial products company’s stock, valued at approximately $443,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DE. CWA Asset Management Group LLC raised its stake in Deere & Company by 5.6% during the third quarter. CWA Asset Management Group LLC now owns 30,170 shares of the industrial products company’s stock worth $10,109,000 after acquiring an additional 1,608 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in Deere & Company by 0.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 100,733 shares of the industrial products company’s stock worth $34,547,000 after acquiring an additional 372 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Deere & Company by 2.1% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 227,300 shares of the industrial products company’s stock valued at $77,939,000 after buying an additional 4,600 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of Deere & Company in the third quarter valued at $72,809,000. Finally, Accel Wealth Management increased its stake in shares of Deere & Company by 53.0% in the fourth quarter. Accel Wealth Management now owns 4,364 shares of the industrial products company’s stock valued at $1,496,000 after buying an additional 1,511 shares in the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.

A number of brokerages have recently weighed in on DE. Deutsche Bank Aktiengesellschaft raised their target price on Deere & Company from $400.00 to $417.00 and gave the company a “hold” rating in a research note on Tuesday, February 22nd. Barclays lowered their target price on Deere & Company from $415.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. upgraded Deere & Company from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $440.00 in a research note on Monday, March 28th. BMO Capital Markets reiterated a “hold” rating and issued a $425.00 price target on shares of Deere & Company in a report on Friday, May 20th. Finally, Zacks Investment Research cut Deere & Company from a “buy” rating to a “hold” rating and set a $412.00 price target on the stock. in a report on Monday, February 14th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $432.13.

In other Deere & Company news, insider Pentz Markwart Von sold 18,364 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $393.00, for a total transaction of $7,217,052.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rajesh Kalathur sold 32,391 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $400.00, for a total value of $12,956,400.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Shares of NYSE DE traded up $6.18 during mid-day trading on Wednesday, reaching $343.21. 42,799 shares of the company’s stock were exchanged, compared to its average volume of 2,125,330. The firm has a market capitalization of $105.29 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.19 and a beta of 1.02. The company has a current ratio of 2.25, a quick ratio of 1.94 and a debt-to-equity ratio of 1.84. The business has a fifty day simple moving average of $399.40 and a 200 day simple moving average of $377.10. Deere & Company has a twelve month low of $307.64 and a twelve month high of $446.76.

Deere & Company (NYSE:DEGet Rating) last released its quarterly earnings results on Friday, May 20th. The industrial products company reported $6.81 EPS for the quarter, topping analysts’ consensus estimates of $6.71 by $0.10. Deere & Company had a return on equity of 33.65% and a net margin of 12.69%. The company had revenue of $12.03 billion for the quarter, compared to analyst estimates of $13.16 billion. During the same quarter last year, the firm posted $5.68 earnings per share. Deere & Company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 22.69 earnings per share for the current fiscal year.

Deere & Company Profile (Get Rating)

Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

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

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