Jag Capital Management LLC Sells 889 Shares of Deere & Company (NYSE:DE)

Jag Capital Management LLC reduced its holdings in Deere & Company (NYSE:DE - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,499 shares of the industrial products company's stock after selling 889 shares during the quarter. Jag Capital Management LLC's holdings in Deere & Company were worth $3,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC raised its holdings in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after acquiring an additional 1,278 shares during the period. Kovack Advisors Inc. raised its holdings in shares of Deere & Company by 12.6% during the fourth quarter. Kovack Advisors Inc. now owns 2,114 shares of the industrial products company's stock valued at $896,000 after acquiring an additional 237 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Deere & Company by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,124 shares of the industrial products company's stock valued at $6,832,000 after acquiring an additional 115 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Deere & Company by 8.6% during the fourth quarter. QRG Capital Management Inc. now owns 32,539 shares of the industrial products company's stock valued at $13,787,000 after acquiring an additional 2,569 shares during the period. Finally, Pettyjohn Wood & White Inc. acquired a new stake in shares of Deere & Company during the fourth quarter valued at approximately $244,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.0%

DE stock traded up $4.93 during trading hours on Friday, hitting $513.46. The company's stock had a trading volume of 1,835,337 shares, compared to its average volume of 1,358,147. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $139.06 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock has a 50 day moving average price of $500.54 and a two-hundred day moving average price of $472.91.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.53 earnings per share. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DE. BMO Capital Markets restated a "market perform" rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Robert W. Baird boosted their price target on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a report on Friday, May 16th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Truist Financial boosted their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $515.19.

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.