Deere & Company (NYSE:DE) Position Trimmed by Magnus Financial Group LLC

Magnus Financial Group LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 3.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,217 shares of the industrial products company’s stock after selling 79 shares during the quarter. Magnus Financial Group LLC’s holdings in Deere & Company were worth $367,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DE. Private Ocean LLC lifted its position in shares of Deere & Company by 560.0% in the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. Ellis Investment Partners LLC purchased a new stake in shares of Deere & Company in the 1st quarter valued at approximately $33,000. Arcus Capital Partners LLC purchased a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $33,000. Orrstown Financial Services Inc. lifted its position in shares of Deere & Company by 116.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 116 shares in the last quarter. Finally, Field & Main Bank purchased a new stake in shares of Deere & Company in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 67.67% of the company’s stock.

In other news, COO John C. May II sold 16,468 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the transaction, the chief operating officer now owns 60,550 shares in the company, valued at approximately $9,882,365.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John C. May II sold 5,228 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the transaction, the chief operating officer now owns 49,310 shares in the company, valued at approximately $8,382,700. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.



Shares of Deere & Company stock traded down $0.22 during midday trading on Tuesday, reaching $152.17. 30,659 shares of the company’s stock traded hands, compared to its average volume of 2,156,594. The company has a market cap of $47.31 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company’s 50 day simple moving average is $160.46 and its 200 day simple moving average is $158.43. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99. Deere & Company has a 52 week low of $128.32 and a 52 week high of $171.22.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.09). The business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $9.38 billion. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.59 EPS. As a group, equities research analysts predict that Deere & Company will post 10.17 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, June 28th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.00%. Deere & Company’s dividend payout ratio is currently 32.37%.

Several brokerages recently commented on DE. Stephens assumed coverage on shares of Deere & Company in a research report on Wednesday, August 14th. They issued an “equal weight” rating and a $160.00 price target for the company. Royal Bank of Canada cut their target price on shares of Deere & Company from $190.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, May 20th. Barclays reiterated a “buy” rating and issued a $167.00 target price on shares of Deere & Company in a research report on Monday, July 15th. Robert W. Baird cut their target price on shares of Deere & Company from $170.00 to $150.00 and set a “positive” rating for the company in a research report on Tuesday, August 13th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $175.00 target price (down previously from $195.00) on shares of Deere & Company in a research report on Monday, May 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Deere & Company presently has an average rating of “Hold” and a consensus price target of $166.89.

About Deere & Company

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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