Malaga Cove Capital LLC Raises Stock Holdings in Deere & Company $DE

Malaga Cove Capital LLC grew its stake in shares of Deere & Company (NYSE:DE) by 14.7% during the second quarter, Holdings Channel reports. The institutional investor owned 3,118 shares of the industrial products company’s stock after buying an additional 400 shares during the period. Malaga Cove Capital LLC’s holdings in Deere & Company were worth $1,585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. OLD National Bancorp IN grew its stake in Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after acquiring an additional 610 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 798 shares during the last quarter. Providence Capital Advisors LLC lifted its position in shares of Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after buying an additional 303 shares in the last quarter. Bragg Financial Advisors Inc boosted its stake in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after buying an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in Deere & Company during the 1st quarter valued at approximately $13,588,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.2%

DE stock opened at $474.73 on Friday. The company has a market capitalization of $128.33 billion, a PE ratio of 24.82, a P/E/G ratio of 3.05 and a beta of 1.04. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The firm’s 50-day moving average is $466.07 and its 200 day moving average is $489.91.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company posted $6.29 earnings per share. On average, research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DE shares. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research report on Tuesday, October 28th. Wolfe Research lowered their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Oppenheimer dropped their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Finally, Evercore ISI set a $491.00 price target on Deere & Company in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $518.72.

Deere & 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.