Deere & Company (DE) Shares Sold by Jag Capital Management LLC
Jag Capital Management LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,939 shares of the industrial products company’s stock after selling 84 shares during the period. Jag Capital Management LLC’s holdings in Deere & Company were worth $1,749,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of Deere & Company by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,909,749 shares of the industrial products company’s stock worth $587,750,000 after acquiring an additional 37,487 shares during the period. Capital Research Global Investors increased its holdings in Deere & Company by 28.3% in the third quarter. Capital Research Global Investors now owns 326,000 shares of the industrial products company’s stock worth $49,008,000 after purchasing an additional 72,000 shares in the last quarter. Man Group plc increased its holdings in Deere & Company by 4.8% in the third quarter. Man Group plc now owns 24,155 shares of the industrial products company’s stock worth $3,632,000 after purchasing an additional 1,106 shares in the last quarter. Verition Fund Management LLC increased its holdings in Deere & Company by 330.2% in the third quarter. Verition Fund Management LLC now owns 9,000 shares of the industrial products company’s stock worth $1,353,000 after purchasing an additional 6,908 shares in the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC increased its holdings in Deere & Company by 3.5% in the third quarter. Worldquant Millennium Quantitative Strategies LLC now owns 39,240 shares of the industrial products company’s stock worth $5,899,000 after purchasing an additional 1,314 shares in the last quarter. 68.26% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on DE shares. Credit Suisse Group reiterated a “buy” rating and issued a $211.00 target price on shares of Deere & Company in a report on Tuesday, January 8th. Argus lifted their target price on Deere & Company from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 9th. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Tuesday, January 15th. OTR Global raised Deere & Company to a “positive” rating in a research report on Friday, January 18th. Finally, Bank of America cut Deere & Company from a “buy” rating to a “neutral” rating and cut their target price for the company from $173.00 to $170.00 in a research report on Wednesday, February 13th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Deere & Company presently has an average rating of “Buy” and an average target price of $176.73.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, February 15th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.22). The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. Deere & Company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 earnings per share. On average, equities research analysts predict that Deere & Company will post 11.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 1.87%. Deere & Company’s payout ratio is 32.37%.
In other news, insider John C. May II sold 11,661 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the completion of the sale, the insider now owns 55,743 shares in the company, valued at approximately $8,930,586.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is currently owned by corporate insiders.
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Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
Further Reading: Earnings Per Share
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