Mitchell Mcleod Pugh & Williams Inc. Boosts Stock Holdings in Deere & Company $DE

Mitchell Mcleod Pugh & Williams Inc. boosted its position in Deere & Company (NYSE:DE) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,632 shares of the industrial products company’s stock after purchasing an additional 80 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Deere & Company were worth $2,355,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DE. OLD National Bancorp IN raised its holdings in Deere & Company by 2.6% during the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after acquiring an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after acquiring an additional 798 shares during the period. Providence Capital Advisors LLC raised its holdings in Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after acquiring an additional 303 shares during the period. Bragg Financial Advisors Inc raised its holdings in Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after acquiring an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new stake in Deere & Company during the 1st quarter valued at $13,588,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DE shares. Wolfe Research lowered their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday. Robert W. Baird lowered their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a report on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $511.76.

Deere & Company Trading Up 2.1%

Deere & Company stock opened at $448.12 on Wednesday. The stock has a market cap of $121.14 billion, a P/E ratio of 23.42, a PEG ratio of 2.82 and a beta of 1.02. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The firm’s fifty day moving average price is $476.51 and its 200-day moving average price is $487.98. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.29 earnings per share. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio is currently 33.87%.

About Deere & Company

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.