Deere & Company $DE Shares Sold by Mendel Money Management

Mendel Money Management cut its stake in Deere & Company (NYSE:DE) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,469 shares of the industrial products company’s stock after selling 370 shares during the quarter. Deere & Company comprises approximately 2.1% of Mendel Money Management’s investment portfolio, making the stock its 10th biggest position. Mendel Money Management’s holdings in Deere & Company were worth $4,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $25,000. Activest Wealth Management grew its stake in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company in the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its stake in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares during the period. Finally, Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company in the 2nd quarter valued at $38,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial upped their price target on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on Deere & Company in a research note on Wednesday, October 22nd. They issued an “outperform” rating and a $542.00 price target on the stock. Daiwa Capital Markets decreased their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. DA Davidson reduced their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Finally, UBS Group reissued a “buy” rating on shares of Deere & Company in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Trading Down 2.0%

Shares of NYSE DE opened at $468.59 on Wednesday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock has a fifty day simple moving average of $469.21 and a 200-day simple moving average of $489.60. The stock has a market capitalization of $126.67 billion, a PE ratio of 24.49, a PEG ratio of 3.08 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm posted $6.29 earnings per share. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Deere & Company 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.