Jag Capital Management LLC Has $1.89 Million Position in Deere & Company (DE)
Jag Capital Management LLC reduced its position in shares of Deere & Company (NYSE:DE) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,277 shares of the industrial products company’s stock after selling 428 shares during the period. Jag Capital Management LLC’s holdings in Deere & were worth $1,888,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Deere & by 2,432.6% in the first quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock worth $1,819,643,000 after buying an additional 16,055,453 shares during the last quarter. Vanguard Group Inc. boosted its position in Deere & by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock worth $2,225,128,000 after buying an additional 1,541,004 shares during the last quarter. SG Americas Securities LLC boosted its position in Deere & by 107.6% in the first quarter. SG Americas Securities LLC now owns 44,868 shares of the industrial products company’s stock worth $4,884,000 after buying an additional 631,378 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock worth $724,205,000 after buying an additional 322,158 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Deere & by 11.2% in the first quarter. Geode Capital Management LLC now owns 2,794,419 shares of the industrial products company’s stock worth $303,767,000 after buying an additional 282,029 shares during the last quarter. Hedge funds and other institutional investors own 67.35% of the company’s stock.
Shares of Deere & Company (NYSE:DE) traded down 0.03% on Wednesday, hitting $131.98. 470,806 shares of the stock traded hands. The stock’s 50 day moving average price is $126.12 and its 200 day moving average price is $115.78. The stock has a market cap of $42.22 billion, a P/E ratio of 23.76 and a beta of 0.67. Deere & Company has a 52-week low of $76.73 and a 52-week high of $132.22. Deere & also was the target of some unusual options trading activity on Monday. Stock traders acquired 731 call options on the company. This represents an increase of 255% compared to the average volume of 206 call options.
Deere & (NYSE:DE) last released its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.79. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The business had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the business earned $1.56 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Deere & Company will post $6.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Wednesday, June 28th. Deere &’s dividend payout ratio (DPR) is presently 43.24%.
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DE has been the topic of a number of analyst reports. Deutsche Bank AG boosted their price objective on shares of Deere & from $122.00 to $135.00 and gave the company a “hold” rating in a research report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) raised shares of Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 target price on the stock in a research note on Monday. Credit Suisse Group set a $132.00 target price on shares of Deere & and gave the company a “buy” rating in a research note on Wednesday, April 12th. Barclays PLC reaffirmed a “sell” rating and set a $82.00 target price (up previously from $80.00) on shares of Deere & in a research note on Tuesday, April 18th. Finally, J P Morgan Chase & Co raised shares of Deere & to an “underweight” rating and lifted their target price for the company from $90.00 to $94.00 in a research note on Monday, May 1st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Deere & presently has an average rating of “Hold” and an average price target of $122.60.
In related news, insider Jean H. Gilles sold 12,361 shares of Deere & stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $129.90, for a total value of $1,605,693.90. Following the completion of the sale, the insider now directly owns 74,981 shares in the company, valued at approximately $9,740,031.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jean H. Gilles sold 8,015 shares of Deere & stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the completion of the sale, the insider now owns 70,635 shares of the company’s stock, valued at $9,181,843.65. The disclosure for this sale can be found here. Insiders sold a total of 125,988 shares of company stock valued at $15,796,587 over the last quarter. 0.75% of the stock is owned by company insiders.
Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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