Allen Mooney & Barnes Investment Advisors LLC Trims Stake in Deere & Company $DE

Key Points

• Allen Mooney & Barnes Investment Advisors LLC significantly reduced its stake in Deere & Company by 94.5%, ending the second quarter with only 1,894 shares valued at approximately $963,000.
• Deere & Company recently announced a quarterly dividend of $1.62, to be paid on November 10th, representing an annualized dividend yield of 1.4%.
• The company's earnings report showed $4.75 earnings per share, exceeding the consensus estimate and indicating a 9.0% year-over-year revenue decline.

Allen Mooney & Barnes Investment Advisors LLC trimmed its stake in shares of Deere & Company (NYSE:DE - Free Report) by 94.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,894 shares of the industrial products company's stock after selling 32,467 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC's holdings in Deere & Company were worth $963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC grew its stake in Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after purchasing an additional 21 shares in the last quarter. Tyler Stone Wealth Management grew its stake in Deere & Company by 1.7% during the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after purchasing an additional 21 shares in the last quarter. McLean Asset Management Corp grew its stake in Deere & Company by 4.0% during the 2nd quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company's stock worth $283,000 after purchasing an additional 21 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after purchasing an additional 22 shares in the last quarter. Finally, Hayek Kallen Investment Management grew its stake in Deere & Company by 1.7% during the 1st quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company's stock worth $610,000 after purchasing an additional 22 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.1%

Deere & Company stock opened at $471.35 on Monday. Deere & Company has a fifty-two week low of $386.42 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company has a market capitalization of $127.42 billion, a P/E ratio of 24.64, a PEG ratio of 3.02 and a beta of 1.00. The stock has a 50-day simple moving average of $497.38 and a 200-day simple moving average of $490.39.

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

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

DE has been the subject of several analyst reports. Citigroup lowered their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. DA Davidson lowered their price objective on Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research report on Monday, August 18th. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research report on Tuesday, September 2nd. Finally, Truist Financial lowered their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $520.87.

Deere & Company Profile

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.

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