The Manufacturers Life Insurance Company Has $182.18 Million Stock Position in Deere & Company (NYSE:DE)

The Manufacturers Life Insurance Company decreased its stake in Deere & Company (NYSE:DE) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 436,534 shares of the industrial products company’s stock after selling 3,494 shares during the period. The Manufacturers Life Insurance Company’s holdings in Deere & Company were worth $182,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairscale Capital LLC bought a new position in Deere & Company in the second quarter worth $26,000. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory bought a new position in Deere & Company in the third quarter worth $32,000. Olistico Wealth LLC bought a new position in Deere & Company in the second quarter worth $37,000. Finally, Centennial Bank AR lifted its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $461.15 on Wednesday. The stock has a 50-day simple moving average of $409.62 and a 200 day simple moving average of $386.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The stock has a market capitalization of $126.17 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 1.75 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates 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 was down 32.8% on a year-over-year basis. During the same period last year, the company earned $8.26 earnings per share. On average, research analysts anticipate that Deere & Company will post 21.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group raised their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Bank of America lifted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $433.00.

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.