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

Mengis Capital Management Inc. increased its stake in Deere & Company (NYSE:DE) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,120 shares of the industrial products company’s stock after purchasing an additional 1,730 shares during the quarter. 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 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of DE. Bayban bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $62,000. Taylor Securities Services Inc. purchased a new stake in Deere & Company in the 4th quarter worth approximately $2,060,000. Rehmann Capital Advisory Group raised its stake in Deere & Company by 9.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,629 shares of the industrial products company’s stock worth $1,224,000 after acquiring an additional 225 shares during the period. Hayek Kallen Investment Management raised its stake in Deere & Company by 1.7% during the 4th quarter. Hayek Kallen Investment Management now owns 5,157 shares of the industrial products company’s stock worth $2,401,000 after acquiring an additional 88 shares during the period. Finally, SHP Wealth Management purchased a new position in Deere & Company during the fourth quarter valued at approximately $33,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.2%

Deere & Company stock opened at $590.37 on Friday. The stock has a market cap of $159.36 billion, a P/E ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm’s 50 day moving average price is $573.71 and its 200-day moving average price is $552.66.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the firm earned $6.64 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent analyst reports. Argus upped their price target on shares of Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Wolfe Research lifted their target price on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Citigroup cut their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a report on Wednesday, April 8th. Finally, BMO Capital Markets boosted their price objective on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company 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.