Alerus Financial NA Sells 288 Shares of Deere & Company (NYSE:DE)

Alerus Financial NA decreased its holdings in shares of Deere & Company (NYSE:DE) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,223 shares of the industrial products company’s stock after selling 288 shares during the period. Alerus Financial NA’s holdings in Deere & Company were worth $928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stockbridge Partners LLC increased its position in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Chase Investment Counsel Corp raised its stake in Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the period. Balentine LLC bought a new stake in Deere & Company during the 3rd quarter worth approximately $710,000. Finally, Douglass Winthrop Advisors LLC lifted its holdings in Deere & Company by 2.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 273,207 shares of the industrial products company’s stock valued at $114,017,000 after purchasing an additional 7,753 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Bank of America raised their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Oppenheimer boosted their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” 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, the company has an average rating of “Hold” and a consensus target price of $436.41.

Deere & Company Trading Down 0.0 %

Shares of NYSE DE opened at $465.90 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The business’s 50 day moving average is $413.25 and its two-hundred day moving average is $388.31. The stock has a market capitalization of $127.47 billion, a P/E ratio of 18.20, a PEG ratio of 1.99 and a beta of 0.93.

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

Deere & Company Profile

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.