Atlantic Union Bankshares Corp Purchases 3,728 Shares of Deere & Company (NYSE:DE)

Atlantic Union Bankshares Corp raised its position in shares of Deere & Company (NYSE:DE) by 61.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,750 shares of the industrial products company’s stock after purchasing an additional 3,728 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Deere & Company were worth $4,005,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC grew its stake in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares during the period. ZRC Wealth Management LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in Deere & Company in the 4th quarter worth approximately $28,000. Naples Money Management LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $29,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 0.4 %

DE stock traded down $1.68 during trading on Friday, reaching $373.63. 5,885,779 shares of the company traded hands, compared to its average volume of 1,519,037. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. The business has a 50 day simple moving average of $385.32 and a 200 day simple moving average of $387.02. The company has a market capitalization of $102.96 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter last year, the company earned $9.65 earnings per share. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

Several analysts have recently issued reports on DE shares. DA Davidson decreased their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. TD Cowen upped their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Stifel Nicolaus upped their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Raymond James started coverage on Deere & Company in a report on Friday. They set an “outperform” rating and a $420.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $430.55.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.