Deere & Company (NYSE:DE) Shares Sold by Pacific Global Investment Management Co.

by · The Cerbat Gem

Pacific Global Investment Management Co. trimmed its position in Deere & Company (NYSE:DE – Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,578 shares of the industrial products company’s stock after selling 489 shares during the period. Deere & Company makes up approximately 1.1% of Pacific Global Investment Management Co.’s holdings, making the stock its 25th biggest holding. Pacific Global Investment Management Co.’s holdings in Deere & Company were worth $5,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Alliance LLC purchased a new position in shares of Deere & Company in the second quarter worth $27,000. Worth Asset Management LLC purchased a new position in shares of Deere & Company in the first quarter worth $28,000. Barrett & Company Inc. purchased a new position in shares of Deere & Company in the first quarter worth $31,000. 25 LLC purchased a new position in shares of Deere & Company during the first quarter worth $34,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Deere & Company during the first quarter worth $40,000. Hedge funds and other institutional investors own 66.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Bank of America reduced their target price on shares of Deere & Company from $455.00 to $422.50 in a report on Wednesday, October 11th. Canaccord Genuity Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and reduced their target price for the stock from $530.00 to $400.00 in a report on Friday, September 22nd. Canaccord Genuity Group reduced their target price on shares of Deere & Company from $400.00 to $375.00 and set a “hold” rating for the company in a report on Monday, November 27th. TD Cowen reduced their target price on shares of Deere & Company from $438.00 to $396.00 and set a “market perform” rating for the company in a report on Friday, November 24th. Finally, Credit Suisse Group reduced their target price on shares of Deere & Company from $560.00 to $551.00 and set an “outperform” rating for the company in a report on Monday, August 21st. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $443.60.

Read Our Latest Stock Report on DE

Insider Activity

In related news, insider Ryan D. Campbell sold 6,073 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $379.19, for a total transaction of $2,302,820.87. Following the transaction, the insider now directly owns 18,519 shares in the company, valued at $7,022,219.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE traded up $4.40 during trading on Friday, hitting $368.81. The company had a trading volume of 1,764,888 shares, compared to its average volume of 1,795,376. The stock has a fifty day simple moving average of $375.72 and a two-hundred day simple moving average of $393.77. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The firm has a market capitalization of $106.22 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The company has a quick ratio of 1.70, a current ratio of 1.90 and a debt-to-equity ratio of 1.77.

Deere & Company (NYSE:DE – Get Free Report) last announced its earnings results on Wednesday, November 22nd. The industrial products company reported $8.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.46 by $0.80. Deere & Company had a net margin of 16.60% and a return on equity of 45.91%. The business had revenue of $13.80 billion for the quarter, compared to analyst estimates of $13.64 billion. During the same quarter last year, the business earned $7.44 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 29.24 earnings per share for the current year.

Deere & Company Company Profile

(Free Report)

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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