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

Schmidt P J Investment Management Inc. trimmed its position in Deere & Company (NYSE:DE) by 40.2% in the third quarter, according to its most recent filing with the 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its position in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Fairscale Capital LLC purchased a new position in Deere & Company in the second quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new position in Deere & Company in the third quarter valued at about $32,000. Olistico Wealth LLC purchased a new position in Deere & Company in the second quarter valued at about $37,000. Finally, Centennial Bank AR boosted its stake in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $411.03 on Friday. The firm’s 50 day simple moving average is $396.54 and its 200 day simple moving average is $385.38. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $113.27 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-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 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.20 EPS. As a group, analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on DE. 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 research note on Wednesday, October 9th. Morgan Stanley dropped their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. 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 research note on Wednesday, October 9th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, 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 research note on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.