Deere & Company $DE is Mengis Capital Management Inc.’s 8th Largest Position

Mengis Capital Management Inc. raised its position in shares of Deere & Company (NYSE:DE) by 6.8% during the 4th quarter, Holdings Channel reports. The fund owned 27,120 shares of the industrial products company’s stock after purchasing an additional 1,730 shares during the period. Deere & Company makes up approximately 2.2% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 8th biggest position. Mengis Capital Management Inc.’s holdings in Deere & Company were worth $12,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 150 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth about $2,153,000. NewEdge Advisors LLC raised its position in shares of Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after buying an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its position in shares of Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after buying an additional 97 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Up 0.2%

Shares of NYSE DE opened at $590.37 on Friday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The company has a market cap of $159.36 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92. The business’s 50 day moving average price is $573.71 and its 200-day moving average price is $552.66.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the previous year, the business earned $6.64 EPS. Deere & Company’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.71%.

Analysts Set New Price Targets

Several research firms recently commented on DE. Truist Financial dropped their price target on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. Citigroup decreased their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Raymond James Financial dropped their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Bank of America decreased their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research note on Wednesday, April 8th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.