Deere & Company (NYSE:DE) Position Trimmed by Mengis Capital Management Inc.

Mengis Capital Management Inc. cut its stake in shares of Deere & Company (NYSE:DE) by 0.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,290 shares of the industrial products company’s stock after selling 100 shares during the quarter. Deere & Company accounts for about 2.4% of Mengis Capital Management Inc.’s holdings, making the stock its 8th largest position. Mengis Capital Management Inc.’s holdings in Deere & Company were worth $11,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pineridge Advisors LLC lifted its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new position in Deere & Company during the fourth quarter valued at $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the fourth quarter valued at about $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company during the fourth quarter valued at about $35,000. Finally, Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DE. Morgan Stanley raised their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Truist Financial reissued a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Oppenheimer raised their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $454.65.

Deere & Company Trading Down 1.2 %

Shares of NYSE DE opened at $484.24 on Tuesday. The business’s 50 day moving average is $452.99 and its two-hundred day moving average is $422.92. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The stock has a market capitalization of $131.88 billion, a P/E ratio of 21.46, a PEG ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. As a group, research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s payout ratio is presently 28.72%.

About Deere & Company

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.