MGO One Seven LLC Raises Position in Deere & Company $DE

MGO One Seven LLC boosted its stake in Deere & Company (NYSE:DE) by 44.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,156 shares of the industrial products company’s stock after buying an additional 1,579 shares during the quarter. MGO One Seven LLC’s holdings in Deere & Company were worth $2,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Southland Equity Partners LLC lifted its holdings in Deere & Company by 3.9% in the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after buying an additional 20 shares during the period. Vivid Wealth Management LLC lifted its holdings in shares of Deere & Company by 1.9% during the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 21 shares during the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 21 shares during the last quarter. Finally, McLean Asset Management Corp lifted its holdings in shares of Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 21 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE opened at $448.12 on Wednesday. The company has a market capitalization of $121.14 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 2.82 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. The firm has a 50 day moving average of $476.51 and a 200 day moving average of $487.98. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.29 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is 33.87%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DE shares. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Tuesday. Oppenheimer lowered their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Robert W. Baird lowered their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a report on Monday. Jefferies Financial Group lowered their target price on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Finally, Citigroup lowered their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $511.76.

Deere & Company Company Profile

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.