Deere & Company (NYSE:DE) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. lessened its stake in Deere & Company (NYSE:DE) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,390 shares of the industrial products company’s stock after selling 3,050 shares during the period. Deere & Company comprises approximately 2.2% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 9th largest holding. Mengis Capital Management Inc.’s holdings in Deere & Company were worth $11,431,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Deere & Company during the 2nd quarter worth $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter valued at about $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company in the second quarter worth about $37,000. Finally, Centennial Bank AR grew its stake in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DE. Oppenheimer cut their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Morgan Stanley cut their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Down 2.2 %

Shares of NYSE:DE opened at $393.83 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 firm has a market cap of $107.75 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. The company has a fifty day simple moving average of $403.52 and a 200 day simple moving average of $385.61.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period last year, the firm earned $10.20 earnings per share. On average, equities research analysts anticipate that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s payout ratio is currently 20.06%.

Deere & 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.