Apollon Wealth Management LLC Buys 811 Shares of Deere & Company $DE

Key Points

• Apollon Wealth Management LLC increased its stake in Deere & Company by 6.2%, acquiring an additional 811 shares, bringing its total holdings to 13,945 shares valued at approximately $7.09 million.
• Deere & Company reported $4.75 earnings per share for the last quarter, exceeding analysts' expectations, though its revenue experienced a 9% decline compared to the same period last year.
• The company will pay a quarterly dividend of $1.62 on November 10th, resulting in an annualized dividend yield of 1.5% and a payout ratio of 33.87%.

Apollon Wealth Management LLC boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,945 shares of the industrial products company's stock after purchasing an additional 811 shares during the quarter. Apollon Wealth Management LLC's holdings in Deere & Company were worth $7,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its holdings in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after buying an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter worth $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company during the second quarter worth $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the second quarter worth $39,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Down 2.1%

Shares of NYSE DE opened at $446.76 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market cap of $120.77 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.94 and a beta of 1.02. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The stock has a 50-day moving average price of $479.15 and a two-hundred day moving average price of $488.35.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) 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 company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the firm posted $6.29 earnings per share. The firm's revenue was down 9.0% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. Deere & Company's dividend payout ratio is currently 33.87%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Deere & Company in a report on Wednesday. Wolfe Research dropped their price target on Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Evercore ISI set a $491.00 price target on Deere & Company in a research note on Tuesday, August 19th. Jefferies Financial Group dropped their price target on Deere & Company from $510.00 to $440.00 and set a "hold" rating for the company in a research note on Wednesday. Finally, Wall Street Zen raised Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $513.88.

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.

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