Magnus Financial Group LLC Buys 33 Shares of Deere & Company (NYSE:DE)

Magnus Financial Group LLC lifted its position in Deere & Company (NYSE:DE) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,219 shares of the industrial products company’s stock after buying an additional 33 shares during the quarter. Magnus Financial Group LLC’s holdings in Deere & Company were worth $572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after buying an additional 1,095,736 shares during the last quarter. Capital World Investors boosted its position in shares of Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after acquiring an additional 157,224 shares in the last quarter. FMR LLC increased its stake in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC grew its position in Deere & Company by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after acquiring an additional 97,203 shares during the last quarter. Finally, Norges Bank acquired a new position in Deere & Company during the 4th quarter worth approximately $1,244,094,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DE shares. Bank of America increased their target price on Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Morgan Stanley increased their price target on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Oppenheimer raised their target price on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average price target of $515.19.

Deere & Company Price Performance

Shares of NYSE:DE opened at $519.62 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company’s 50-day moving average is $479.20 and its 200 day moving average is $465.95. The company has a market capitalization of $140.73 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share 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 return on equity of 27.31% and a net margin of 12.94%. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.53 EPS. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

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.