Mengis Capital Management Inc. Decreases Stock Holdings in Deere & Company $DE

Key Points

• Mengis Capital Management Inc. reduced its holdings in Deere & Company by 6.9% during the 2nd quarter, now owning 25,415 shares valued at approximately $12.9 million.
• Various institutional investors have made significant changes to their stakes in Deere, with notable increases such as Activest Wealth Management raising theirs by 2,750.0% in the 1st quarter.
• Analysts have lowered price targets for Deere & Company, with Jefferies reducing it from $510.00 to $440.00, while the average rating remains a "Moderate Buy."

Mengis Capital Management Inc. lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,415 shares of the industrial products company's stock after selling 1,875 shares during the quarter. Deere & Company comprises 2.7% of Mengis Capital Management Inc.'s portfolio, making the stock its 5th biggest holding. Mengis Capital Management Inc.'s holdings in Deere & Company were worth $12,923,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management raised its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC bought a new stake in Deere & Company during the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its stake in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the period. Marshall & Sullivan Inc. WA bought a new stake in Deere & Company during the 2nd quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory bought a new stake in Deere & Company during the 2nd quarter valued at approximately $39,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

DE has been the subject of several research analyst reports. Jefferies Financial Group cut their price target on Deere & Company from $510.00 to $440.00 and set a "hold" rating for the company in a report on Wednesday. Citigroup cut their price target on Deere & Company from $525.00 to $515.00 and set a "neutral" rating for the company in a report on Tuesday. Truist Financial raised their price target on Deere & Company from $602.00 to $609.00 and gave the company a "buy" rating in a report on Wednesday. Robert W. Baird cut their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Finally, Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $513.88.

Deere & Company Trading Down 1.1%

DE opened at $455.73 on Friday. The firm has a market cap of $123.20 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 2.97 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The stock has a fifty day moving average price of $480.23 and a 200-day moving average price of $488.58.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $6.29 EPS. As a group, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio is presently 33.87%.

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.

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