Apollon Wealth Management LLC Lowers Holdings in Deere & Company (NYSE:DE)

Apollon Wealth Management LLC lowered its holdings in Deere & Company (NYSE:DE - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,134 shares of the industrial products company's stock after selling 710 shares during the period. Apollon Wealth Management LLC's holdings in Deere & Company were worth $6,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Brighton Jones LLC increased its position in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Deere & Company by 23.4% during the 4th quarter. Proficio Capital Partners LLC now owns 1,253 shares of the industrial products company's stock valued at $531,000 after purchasing an additional 238 shares during the last quarter. one8zero8 LLC bought a new position in shares of Deere & Company during the 4th quarter valued at about $504,000. Harbour Investments Inc. increased its position in shares of Deere & Company by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 5,622 shares of the industrial products company's stock valued at $2,382,000 after purchasing an additional 65 shares during the last quarter. Finally, Patten & Patten Inc. TN increased its position in shares of Deere & Company by 3.8% during the 4th quarter. Patten & Patten Inc. TN now owns 2,206 shares of the industrial products company's stock valued at $935,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on DE. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Citigroup reduced their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Morgan Stanley raised their price target on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. UBS Group reduced their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial raised their price target on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $515.50.

Deere & Company Stock Down 0.3%

Shares of DE traded down $1.49 on Friday, reaching $497.65. The stock had a trading volume of 586,168 shares, compared to its average volume of 1,342,356. The firm has a market capitalization of $134.78 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company has a 50-day simple moving average of $512.70 and a 200-day simple moving average of $480.12. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $8.53 EPS. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is presently 31.35%.

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.