Geneos Wealth Management Inc. Decreases Stock Holdings in Deere & Company $DE

Key Points

• Geneos Wealth Management Inc. reduced its holdings in Deere & Company by 64.8% in the first quarter, dropping to 3,903 shares valued at $1.83 million after selling 7,176 shares.
• Deere & Company reported $4.75 earnings per share for the last quarter, exceeding estimates by $0.13, despite a 9% decline in revenue year-over-year.
• The firm announced a quarterly dividend of $1.62 per share, representing an annualized yield of 1.4%, with the ex-dividend date set for September 30th.

Geneos Wealth Management Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 64.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,903 shares of the industrial products company's stock after selling 7,176 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Deere & Company were worth $1,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DE. GAMMA Investing LLC increased its position in shares of Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. Nuveen LLC purchased a new stake in Deere & Company in the first quarter worth $571,073,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Deere & Company in the fourth quarter worth $149,057,000. Price T Rowe Associates Inc. MD increased its position in Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after buying an additional 286,253 shares during the last quarter. Finally, Sarasin & Partners LLP increased its position in Deere & Company by 50.4% in the first quarter. Sarasin & Partners LLP now owns 771,866 shares of the industrial products company's stock worth $362,275,000 after buying an additional 258,522 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $476.24 on Friday. The firm has a market capitalization of $128.74 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 3.03 and a beta of 1.00. Deere & Company has a 52-week low of $383.10 and a 52-week high of $533.78. The stock has a fifty day moving average of $498.30 and a 200 day moving average of $490.35. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE - Get Free Report) last posted 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. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the company earned $6.29 earnings per share. On average, research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Analysts Set New Price Targets

DE has been the subject of a number of recent research reports. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Bank of America raised their price target on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Raymond James Financial raised their price target on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $520.87.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.