Mitchell Mcleod Pugh & Williams Inc. Sells 24 Shares of Deere & Company (NYSE:DE)

Mitchell Mcleod Pugh & Williams Inc. cut its stake in shares of Deere & Company (NYSE:DE) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,576 shares of the industrial products company’s stock after selling 24 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Deere & Company were worth $1,939,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DE. Edgestream Partners L.P. purchased a new position in shares of Deere & Company during the 2nd quarter valued at $216,000. AE Wealth Management LLC lifted its position in shares of Deere & Company by 35.0% in the second quarter. AE Wealth Management LLC now owns 7,245 shares of the industrial products company’s stock valued at $2,707,000 after acquiring an additional 1,877 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Deere & Company by 2.3% in the second quarter. Pacer Advisors Inc. now owns 18,573 shares of the industrial products company’s stock worth $6,939,000 after acquiring an additional 417 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Deere & Company by 5.9% during the second quarter. Thrivent Financial for Lutherans now owns 31,298 shares of the industrial products company’s stock worth $11,694,000 after purchasing an additional 1,740 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Deere & Company by 6.0% during the second quarter. ProShare Advisors LLC now owns 36,191 shares of the industrial products company’s stock worth $13,522,000 after purchasing an additional 2,034 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 4.0 %

Shares of DE opened at $456.57 on Monday. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The business has a fifty day moving average of $431.48 and a 200 day moving average of $402.25. The company has a market cap of $124.00 billion, a PE ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the business earned $8.26 EPS. On average, sell-side analysts expect that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Oppenheimer upped their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Citigroup dropped their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Truist Financial boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $442.83.

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.