Atlantic Union Bankshares Corp Acquires 9,004 Shares of Deere & Company $DE

Atlantic Union Bankshares Corp boosted its holdings in Deere & Company (NYSE:DE) by 81.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,096 shares of the industrial products company’s stock after acquiring an additional 9,004 shares during the period. Atlantic Union Bankshares Corp’s holdings in Deere & Company were worth $10,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DE. Nuveen LLC bought a new stake in Deere & Company in the 1st quarter valued at $571,073,000. TD Asset Management Inc raised its stake in Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after acquiring an additional 410,636 shares during the period. Voya Investment Management LLC raised its stake in Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after acquiring an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares during the period. Finally, Invesco Ltd. raised its stake in Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after acquiring an additional 256,806 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DE shares. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. JPMorgan Chase & Co. decreased their price objective on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Tuesday, October 28th. Wolfe Research decreased their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, Truist Financial upped their price objective on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Stock Performance

DE opened at $473.91 on Thursday. The firm has a market cap of $128.11 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The business’s fifty day moving average is $466.41 and its 200-day moving average is $490.01.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $6.29 EPS. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend 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 33.87%.

Deere & 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.