Atlantic Union Bankshares Corp Grows Stake in Deere & Company (NYSE:DE)

Atlantic Union Bankshares Corp grew its position in shares of Deere & Company (NYSE:DE) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,986 shares of the industrial products company’s stock after purchasing an additional 1,236 shares during the period. Atlantic Union Bankshares Corp’s holdings in Deere & Company were worth $4,105,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC grew its position in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. Pineridge Advisors LLC lifted its stake in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in Deere & Company in the fourth quarter worth $29,000. Bfsg LLC bought a new stake in Deere & Company in the fourth quarter worth $30,000. Finally, Livelsberger Financial Advisory bought a new stake in Deere & Company in the fourth quarter worth $30,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of NYSE DE traded up $4.59 during midday trading on Friday, hitting $381.18. 1,197,519 shares of the company’s stock traded hands, compared to its average volume of 1,540,044. The firm has a fifty day moving average of $367.88 and a 200 day moving average of $379.99. Deere & Company has a 1 year low of $340.20 and a 1 year high of $423.35. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock has a market capitalization of $105.04 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company’s revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the company posted $10.20 EPS. On average, analysts forecast that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The shares were 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 owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on DE shares. Truist Financial reiterated a “buy” rating and issued a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, DA Davidson dropped their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average price target of $415.50.

Deere & Company 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.