Schmidt P J Investment Management Inc. Sells 439 Shares of Deere & Company (NYSE:DE)

Schmidt P J Investment Management Inc. lowered its stake in Deere & Company (NYSE:DE) by 40.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 652 shares of the industrial products company’s stock after selling 439 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Deere & Company were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mattern Wealth Management LLC boosted its position in Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after buying an additional 25 shares in the last quarter. Centaurus Financial Inc. boosted its position in Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares in the last quarter. Cornell Pochily Investment Advisors Inc. lifted its holdings in shares of Deere & Company by 0.7% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after purchasing an additional 26 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Deere & Company by 0.9% during the third quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock worth $1,293,000 after purchasing an additional 27 shares during the period. Finally, First Foundation Advisors lifted its holdings in shares of Deere & Company by 2.3% during the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.6 %

NYSE:DE opened at $411.03 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a 50-day moving average of $396.54 and a 200-day moving average of $385.38. The company has a market cap of $113.27 billion, a PE ratio of 12.37, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a one year low of $340.20 and a one year high of $420.47.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $10.20 earnings per share. As a group, equities research analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DE shares. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Oppenheimer dropped their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Truist Financial boosted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.