Allen Mooney & Barnes Investment Advisors LLC Trims Stock Position in Deere & Company $DE

Allen Mooney & Barnes Investment Advisors LLC cut its stake in shares of Deere & Company (NYSE:DE) by 94.5% in the 2nd quarter, Holdings Channel reports. The fund owned 1,894 shares of the industrial products company’s stock after selling 32,467 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Deere & Company were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management raised its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new position in shares of Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its stake in shares of Deere & Company by 116.1% during the 1st 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. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 2nd quarter worth approximately $39,000. Finally, Orion Capital Management LLC purchased a new position in shares of Deere & Company during the 4th quarter worth approximately $34,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DE. Oppenheimer increased their target price on Deere & Company from $560.00 to $566.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Truist Financial cut their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Evercore ISI set a $491.00 target price on Deere & Company in a research note on Tuesday, August 19th. JPMorgan Chase & Co. cut their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. Finally, DA Davidson cut their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $520.87.

Deere & Company Price Performance

Shares of NYSE:DE opened at $471.35 on Monday. The business’s fifty day moving average price is $497.38 and its two-hundred day moving average price is $490.39. The stock has a market cap of $127.42 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. 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 one year low of $386.42 and a one year high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.29 EPS. On average, analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Deere & Company 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.