Jag Capital Management LLC Trims Stock Holdings in Deere & Company $DE

Jag Capital Management LLC lowered its stake in Deere & Company (NYSE:DE) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,389 shares of the industrial products company’s stock after selling 110 shares during the quarter. Jag Capital Management LLC’s holdings in Deere & Company were worth $3,249,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. OLD National Bancorp IN boosted its position in shares of Deere & Company by 2.6% during the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after purchasing an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 798 shares in the last quarter. Providence Capital Advisors LLC boosted its position in shares of Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after buying an additional 303 shares during the period. Bragg Financial Advisors Inc grew its stake in shares of Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after buying an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Deere & Company in the first quarter valued at $13,588,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.6%

Shares of NYSE DE opened at $439.00 on Tuesday. The business has a 50-day moving average price of $477.70 and a 200 day moving average price of $488.26. The stock has a market cap of $118.67 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.29 earnings per share. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.5%. Deere & Company’s dividend payout ratio is currently 33.87%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial increased their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Jefferies Financial Group reduced their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a report on Tuesday, August 19th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Oppenheimer decreased their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $513.88.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.