Apollon Wealth Management LLC Cuts Position in Deere & Company (NYSE:DE)

Apollon Wealth Management LLC decreased its position in Deere & Company (NYSE:DE) by 7.4% during the 4th quarter, Holdings Channel reports. The fund owned 13,844 shares of the industrial products company’s stock after selling 1,099 shares during the quarter. Apollon Wealth Management LLC’s holdings in Deere & Company were worth $5,866,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DE. Wellington Management Group LLP grew its position in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. FMR LLC grew its holdings in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC increased its position in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC lifted its stake in Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares during the last quarter. Finally, Stockbridge Partners LLC boosted its holdings in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after acquiring an additional 540,874 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on DE. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Barclays increased their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $444.50.

Deere & Company Stock Up 0.1 %

Shares of Deere & Company stock opened at $465.63 on Friday. The stock has a market capitalization of $126.82 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.94 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $485.84. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The business’s 50 day simple moving average is $445.01 and its 200-day simple moving average is $412.26.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 EPS. Equities research analysts forecast that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

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.