Malaga Cove Capital LLC Increases Stock Position in Deere & Company (NYSE:DE)

Malaga Cove Capital LLC grew its position in Deere & Company (NYSE:DE) by 31.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,763 shares of the industrial products company’s stock after purchasing an additional 660 shares during the period. Malaga Cove Capital LLC’s holdings in Deere & Company were worth $1,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Briaud Financial Planning Inc bought a new position in Deere & Company during the third quarter valued at about $25,000. ZRC Wealth Management LLC bought a new position in Deere & Company during the fourth quarter valued at about $28,000. Rakuten Securities Inc. bought a new position in Deere & Company during the fourth quarter valued at about $28,000. Naples Money Management LLC bought a new position in Deere & Company during the fourth quarter valued at about $29,000. Finally, Bfsg LLC bought a new position in Deere & Company during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DE. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Evercore ISI boosted their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Morgan Stanley started coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Trading Up 1.3 %

Deere & Company stock traded up $5.00 during mid-day trading on Friday, reaching $400.96. 1,626,960 shares of the company traded hands, compared to its average volume of 1,337,641. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The firm’s 50 day moving average price is $391.45 and its 200 day moving average price is $383.91. The firm has a market capitalization of $111.61 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.51 and a beta of 1.04. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.55 EPS. On average, analysts anticipate that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

About Deere & Company

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.