Townsquare Capital LLC Increases Stock Holdings in Deere & Company (NYSE:DE)

Townsquare Capital LLC grew its position in shares of Deere & Company (NYSE:DE) by 26.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,354 shares of the industrial products company’s stock after buying an additional 1,319 shares during the quarter. Townsquare Capital LLC’s holdings in Deere & Company were worth $2,652,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares in the last quarter. Mawer Investment Management Ltd. acquired a new position in Deere & Company during the second quarter worth $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Deere & Company in the third quarter worth $136,936,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $465.90 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a market capitalization of $127.47 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.99 and a beta of 0.93. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company’s 50-day simple moving average is $413.25 and its 200-day simple moving average is $388.31.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the business posted $8.26 EPS. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DE shares. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. UBS Group lifted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Bank of America raised their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial upped their target price on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and an average price target of $436.41.

About Deere & Company

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.