Mengis Capital Management Inc. boosted its holdings in Deere & Company (NYSE:DE) by 44.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,814 shares of the industrial products company’s stock after acquiring an additional 5,440 shares during the quarter. Deere & Company accounts for approximately 1.7% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Mengis Capital Management Inc.’s holdings in Deere & Company were worth $2,788,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC bought a new position in Deere & Company in the 3rd quarter valued at $402,000. Korea Investment CORP lifted its holdings in shares of Deere & Company by 6.5% during the 3rd quarter. Korea Investment CORP now owns 118,881 shares of the industrial products company’s stock worth $14,930,000 after acquiring an additional 7,300 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Deere & Company during the 3rd quarter worth $206,000. Calamos Advisors LLC lifted its holdings in shares of Deere & Company by 3.8% during the 3rd quarter. Calamos Advisors LLC now owns 66,608 shares of the industrial products company’s stock worth $8,365,000 after acquiring an additional 2,440 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Deere & Company by 237.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,990 shares of the industrial products company’s stock worth $250,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 66.24% of the company’s stock.
In other Deere & Company news, insider Max A. Guinn sold 21,989 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $151.39, for a total value of $3,328,914.71. Following the transaction, the insider now owns 64,377 shares in the company, valued at $9,746,034.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Marc A. Howze sold 7,731 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $151.76, for a total transaction of $1,173,256.56. The disclosure for this sale can be found here. Insiders sold 168,015 shares of company stock worth $27,304,898 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, February 16th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.15. Deere & Company had a net margin of 4.57% and a return on equity of 27.18%. The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.41 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. equities research analysts expect that Deere & Company will post 9.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, December 29th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, December 28th. Deere & Company’s payout ratio is 54.92%.
A number of analysts have recently issued reports on the stock. TheStreet downgraded shares of Deere & Company from a “b+” rating to a “c+” rating in a report on Friday, February 16th. Wells Fargo & Co reissued an “outperform” rating and issued a $200.00 price target (up from $170.00) on shares of Deere & Company in a research note on Wednesday, January 10th. BMO Capital Markets reissued an “outperform” rating and issued a $195.00 price target (up from $190.00) on shares of Deere & Company in a research note on Wednesday, February 21st. Royal Bank of Canada raised shares of Deere & Company from a “sector perform” rating to an “outperform” rating and lowered their price target for the stock from $190.00 to $155.00 in a research note on Wednesday, January 10th. Finally, Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $170.86.
About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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