Murphy & Mullick Capital Management Corp Buys New Holdings in Deere & Company (NYSE:DE)

Murphy & Mullick Capital Management Corp purchased a new position in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,073 shares of the industrial products company’s stock, valued at approximately $878,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DRW Securities LLC boosted its position in Deere & Company by 388.3% during the 3rd quarter. DRW Securities LLC now owns 3,086 shares of the industrial products company’s stock valued at $1,288,000 after buying an additional 2,454 shares during the period. Boston Family Office LLC raised its stake in shares of Deere & Company by 42.4% during the third quarter. Boston Family Office LLC now owns 1,175 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 350 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Deere & Company by 1.9% during the third quarter. Bank of Montreal Can now owns 376,589 shares of the industrial products company’s stock valued at $157,414,000 after acquiring an additional 6,915 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its holdings in shares of Deere & Company by 24.8% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 15,417 shares of the industrial products company’s stock worth $6,434,000 after purchasing an additional 3,060 shares during the period. Finally, FMR LLC grew its stake in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.1 %

Shares of NYSE:DE opened at $479.70 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The stock has a fifty day simple moving average of $475.21 and a two-hundred day simple moving average of $438.25. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The stock has a market capitalization of $130.20 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Citigroup raised their target price on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight 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 target price of $460.00.

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.