Mendel Money Management Sells 370 Shares of Deere & Company $DE

Mendel Money Management reduced its stake in Deere & Company (NYSE:DE) by 3.8% during the 2nd quarter, Holdings Channel reports. The fund owned 9,469 shares of the industrial products company’s stock after selling 370 shares during the quarter. Deere & Company makes up 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after buying an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Deere & Company by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after purchasing an additional 35,075 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Deere & Company by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after purchasing an additional 25,725 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Jefferies Financial Group lowered their target price on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Royal Bank Of Canada started coverage on shares of Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price for the company. Evercore ISI set a $491.00 target price on Deere & Company in a research note on Tuesday, August 19th. Oppenheimer decreased their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Finally, Truist Financial boosted their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Price Performance

Shares of NYSE:DE opened at $468.59 on Wednesday. The company’s fifty day moving average price is $469.21 and its 200 day moving average price is $489.60. The firm has a market capitalization of $126.67 billion, a P/E ratio of 24.49, a P/E/G ratio of 3.08 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

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

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 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.