Atria Wealth Solutions Inc. Decreases Stock Holdings in Deere & Company (NYSE:DE)

Atria Wealth Solutions Inc. decreased its holdings in shares of Deere & Company (NYSE:DE) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,963 shares of the industrial products company’s stock after selling 1,247 shares during the period. Atria Wealth Solutions Inc.’s holdings in Deere & Company were worth $7,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pinnacle Associates Ltd. lifted its holdings in Deere & Company by 21.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Deere & Company by 2.4% in the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after acquiring an additional 5,485 shares during the period. New Mexico Educational Retirement Board raised its stake in shares of Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after purchasing an additional 900 shares during the last quarter. Centric Wealth Management purchased a new position in Deere & Company in the third quarter worth $2,640,000. Finally, Graham Capital Management L.P. raised its position in Deere & Company by 483.3% in the third quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after acquiring an additional 14,500 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE traded up $0.25 during midday trading on Friday, reaching $394.31. 50,266 shares of the company traded hands, compared to its average volume of 1,460,668. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The firm has a market capitalization of $109.76 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The company has a fifty day moving average price of $387.20 and a 200 day moving average price of $383.54.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.55 EPS. On average, analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DE shares. JPMorgan Chase & Co. raised their price target on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Melius Research reiterated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Stifel Nicolaus dropped their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Wells Fargo & Company dropped their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $433.28.

About Deere & Company

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.