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Geneos Wealth Management Inc. Lowers Holdings in Deere & Company (NYSE:DE)

Deere & Company logo with Industrials background

Key Points

  • Geneos Wealth Management Inc. reduced its stake in Deere & Company by 52.3%, selling 5,792 shares and currently holding 5,287 shares valued at approximately $2.48 million.
  • Deere & Company reported earnings of $6.64 per share, surpassing estimates, despite a year-over-year revenue decline of 17.9% to $11.17 billion.
  • The company announced a quarterly dividend of $1.62 per share, scheduled for payment on August 8, reflecting an annual dividend yield of 1.28%.
  • Five stocks we like better than Deere & Company.

Geneos Wealth Management Inc. lessened its position in shares of Deere & Company (NYSE:DE - Free Report) by 52.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,287 shares of the industrial products company's stock after selling 5,792 shares during the period. Geneos Wealth Management Inc.'s holdings in Deere & Company were worth $2,482,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Deere & Company by 211.9% in the 4th quarter. Meeder Asset Management Inc. now owns 131 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 89 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Deere & Company by 10.0% in the 4th quarter. Meeder Advisory Services Inc. now owns 4,562 shares of the industrial products company's stock valued at $1,933,000 after acquiring an additional 415 shares in the last quarter. RFG Bristol Wealth Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $539,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $28,454,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 4.5%

NYSE DE traded down $23.43 on Friday, hitting $500.94. The company's stock had a trading volume of 1,623,054 shares, compared to its average volume of 1,072,546. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The company's 50-day simple moving average is $512.25 and its 200 day simple moving average is $486.99. The firm has a market cap of $135.67 billion, a P/E ratio of 24.24, a PEG ratio of 3.32 and a beta of 1.06.

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. Research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company's dividend payout ratio is 31.35%.

Wall Street Analyst Weigh In

Several research firms have weighed in on DE. JPMorgan Chase & Co. raised their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Wall Street Zen lowered Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Barclays increased their price objective on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $515.50.

View Our Latest Report on Deere & Company

About Deere & Company

(Free Report)

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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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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