Janney Montgomery Scott LLC Sells 1,163 Shares of Deere & Company $DE

Key Points

• Janney Montgomery Scott LLC sold 1,163 shares of Deere & Company, reducing its stake by 1.0%, now holding 119,712 shares valued at approximately $60.87 million.
• Deere & Company reported a quarterly EPS of $4.75, exceeding analyst expectations, despite a 9.0% year-over-year revenue decline.
• The company has announced a quarterly dividend of $1.62, payable on November 10th, representing an annualized yield of 1.4% with a dividend payout ratio of 33.87%.

Janney Montgomery Scott LLC lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,712 shares of the industrial products company's stock after selling 1,163 shares during the period. Janney Montgomery Scott LLC's holdings in Deere & Company were worth $60,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Venture Visionary Partners LLC raised its position in shares of Deere & Company by 3.3% in the 2nd quarter. Venture Visionary Partners LLC now owns 3,970 shares of the industrial products company's stock valued at $2,019,000 after acquiring an additional 128 shares during the period. Baron Silver Stevens Financial Advisors LLC raised its holdings in Deere & Company by 4.1% in the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 807 shares of the industrial products company's stock worth $410,000 after purchasing an additional 32 shares during the period. Archford Capital Strategies LLC acquired a new stake in Deere & Company in the second quarter worth $212,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in shares of Deere & Company during the second quarter worth $298,000. Finally, Moss Adams Wealth Advisors LLC grew its holdings in shares of Deere & Company by 20.5% in the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 599 shares of the industrial products company's stock valued at $306,000 after buying an additional 102 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.9%

Shares of Deere & Company stock opened at $456.78 on Wednesday. The firm has a market cap of $123.48 billion, a PE ratio of 23.88, a P/E/G ratio of 2.99 and a beta of 1.00. The business's 50 day simple moving average is $488.06 and its 200 day simple moving average is $489.62. 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 has a 52-week low of $387.03 and a 52-week high of $533.78.

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

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on DE shares. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Truist Financial decreased 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. DA Davidson dropped their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Finally, Robert W. Baird cut their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of "Moderate Buy" and an average price target of $518.06.

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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