Jag Capital Management LLC Sells 3,447 Shares of Deere & Company (DE)
Jag Capital Management LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 22.6% during the fourth quarter, HoldingsChannel reports. The firm owned 11,833 shares of the industrial products company’s stock after selling 3,447 shares during the period. Jag Capital Management LLC’s holdings in Deere & Company were worth $1,852,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wealthcare Advisory Partners LLC bought a new position in Deere & Company in the 3rd quarter worth about $144,000. Harfst & Associates Inc. increased its stake in Deere & Company by 44.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 360 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in Deere & Company by 1.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock worth $154,000 after acquiring an additional 13 shares during the last quarter. San Francisco Sentry Investment Group CA bought a new position in Deere & Company in the 2nd quarter worth about $155,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in Deere & Company in the 3rd quarter worth about $158,000. 67.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Deere & Company (DE) traded down $0.97 during trading on Tuesday, hitting $169.41. The stock had a trading volume of 563,940 shares, compared to its average volume of 2,330,271. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95. The company has a market cap of $54,740.00, a price-to-earnings ratio of 25.48, a PEG ratio of 2.55 and a beta of 0.77. Deere & Company has a 12-month low of $105.64 and a 12-month high of $170.73.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, December 29th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.40 annualized dividend and a yield of 1.42%. Deere & Company’s payout ratio is 36.09%.
In related news, insider Max A. Guinn sold 7,174 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $132.98, for a total transaction of $953,998.52. Following the transaction, the insider now directly owns 49,562 shares in the company, valued at approximately $6,590,754.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Max A. Guinn sold 11,235 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $168.68, for a total value of $1,895,119.80. Following the transaction, the insider now owns 39,406 shares in the company, valued at $6,647,004.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 227,471 shares of company stock worth $33,432,858. 0.74% of the stock is owned by corporate insiders.
A number of equities analysts have weighed in on the company. Royal Bank of Canada upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and decreased their target price for the stock from $190.00 to $155.00 in a research note on Wednesday, January 10th. Wells Fargo & Co restated an “outperform” rating and issued a $200.00 target price (up from $170.00) on shares of Deere & Company in a research note on Wednesday, January 10th. Stifel Nicolaus reiterated a “buy” rating and set a $184.00 price objective (up from $161.00) on shares of Deere & Company in a research report on Wednesday, January 17th. Seaport Global Securities reiterated a “hold” rating on shares of Deere & Company in a research report on Thursday, January 18th. Finally, Robert W. Baird reiterated a “buy” rating and set a $185.00 price objective on shares of Deere & Company in a research report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $151.87.
Deere & Company 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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