Magnus Financial Group LLC Cuts Holdings in Deere & Company (NYSE:DE)

Magnus Financial Group LLC reduced its position in Deere & Company (NYSE:DE) by 17.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,182 shares of the industrial products company’s stock after selling 248 shares during the period. Magnus Financial Group LLC’s holdings in Deere & Company were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Fairscale Capital LLC purchased a new position in shares of Deere & Company in the 2nd quarter worth $26,000. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Deere & Company in the 2nd quarter worth $37,000. Centennial Bank AR boosted its stake in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in Deere & Company by 2,500.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.4 %

Shares of DE stock opened at $402.05 on Wednesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock’s 50-day moving average price is $389.39 and its 200-day moving average price is $385.19. The stock has a market capitalization of $110.79 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm posted $10.20 earnings per share. The business’s revenue was down 20.3% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analysts Set New Price Targets

A number of equities analysts recently commented on DE shares. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Oppenheimer decreased their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Finally, HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.