Deere & Company (NYSE:DE) Shares Bought by Malaga Cove Capital LLC

Malaga Cove Capital LLC boosted its stake in shares of Deere & Company (NYSE:DEGet Rating) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,325 shares of the industrial products company’s stock after acquiring an additional 56 shares during the quarter. Malaga Cove Capital LLC’s holdings in Deere & Company were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of DE. Morgan Stanley lifted its holdings in shares of Deere & Company by 5.7% in the 2nd quarter. Morgan Stanley now owns 2,479,850 shares of the industrial products company’s stock valued at $874,668,000 after buying an additional 133,091 shares during the period. Sawtooth Solutions LLC lifted its holdings in shares of Deere & Company by 24.9% in the 3rd quarter. Sawtooth Solutions LLC now owns 1,623 shares of the industrial products company’s stock valued at $544,000 after buying an additional 324 shares during the period. WBI Investments Inc. acquired a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $1,926,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Deere & Company by 2.6% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 100,068 shares of the industrial products company’s stock valued at $33,530,000 after buying an additional 2,529 shares during the period. Finally, Avidian Wealth Solutions LLC lifted its holdings in shares of Deere & Company by 3.0% in the 3rd quarter. Avidian Wealth Solutions LLC now owns 7,079 shares of the industrial products company’s stock valued at $2,372,000 after buying an additional 206 shares during the period. 67.35% of the stock is owned by institutional investors.

In related news, insider Rajesh Kalathur sold 32,391 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $400.00, for a total transaction of $12,956,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Pentz Markwart Von sold 18,364 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $393.00, for a total value of $7,217,052.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

NYSE:DE traded down $1.05 during trading hours on Thursday, hitting $362.98. The stock had a trading volume of 1,888,826 shares, compared to its average volume of 2,052,022. The company has a current ratio of 2.25, a quick ratio of 1.94 and a debt-to-equity ratio of 1.84. Deere & Company has a 1-year low of $320.50 and a 1-year high of $446.76. The business has a 50 day simple moving average of $403.87 and a two-hundred day simple moving average of $376.42. The company has a market cap of $111.36 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02.

Deere & Company (NYSE:DEGet Rating) last issued its quarterly earnings data on Friday, February 18th. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.64. Deere & Company had a net margin of 12.69% and a return on equity of 33.65%. The company had revenue of $8.53 billion during the quarter, compared to the consensus estimate of $8.28 billion. During the same quarter last year, the company earned $3.87 earnings per share. Deere & Company’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts expect that Deere & Company will post 22.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Thursday, March 31st were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Wednesday, March 30th. Deere & Company’s payout ratio is currently 23.28%.

Several equities analysts recently weighed in on the company. StockNews.com assumed coverage on Deere & Company in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Oppenheimer raised their price objective on Deere & Company from $425.00 to $432.00 and gave the company an “outperform” rating in a research note on Tuesday, February 22nd. Bank of America downgraded Deere & Company from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $475.00 to $450.00 in a research note on Monday, April 25th. JPMorgan Chase & Co. raised Deere & Company from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $355.00 to $440.00 in a research note on Monday, March 28th. Finally, Zacks Investment Research downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $412.00 price objective for the company. in a research note on Monday, February 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $440.53.

Deere & Company Company Profile (Get Rating)

Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

Further Reading

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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