MGO One Seven LLC Reduces Stock Position in Deere & Company (NYSE:DE)

MGO One Seven LLC trimmed its position in Deere & Company (NYSE:DE) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,985 shares of the industrial products company’s stock after selling 200 shares during the quarter. MGO One Seven LLC’s holdings in Deere & Company were worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Deere & Company in the fourth quarter valued at $1,248,036,000. Parnassus Investments LLC lifted its holdings in shares of Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares during the period. Swedbank AB purchased a new stake in shares of Deere & Company in the first quarter worth about $191,628,000. Mawer Investment Management Ltd. acquired a new stake in Deere & Company during the second quarter worth about $166,937,000. Finally, Vanguard Group Inc. raised its position in Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup lowered their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Finally, DA Davidson cut their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average price target of $414.11.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Deere & Company Price Performance

Shares of NYSE DE opened at $394.65 on Friday. The firm has a 50-day simple moving average of $371.71 and a 200-day simple moving average of $381.36. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $107.98 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.20 EPS. On average, equities analysts predict that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s payout ratio is 17.70%.

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.