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

Atlantic Union Bankshares Corp lifted its position in shares of Deere & Company (NYSE:DE) by 2.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,274 shares of the industrial products company’s stock after purchasing an additional 288 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Deere & Company were worth $4,705,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DE. FMR LLC grew its holdings in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC boosted its holdings in Deere & Company by 53,338.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after acquiring an additional 852,885 shares during the period. International Assets Investment Management LLC boosted its holdings in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares during the period. Stockbridge Partners LLC boosted its holdings in Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. Finally, Mawer Investment Management Ltd. purchased a new position in Deere & Company in the 2nd quarter worth approximately $166,937,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup upped their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Evercore ISI upped their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $436.41.

Deere & Company Stock Performance

DE stock opened at $466.00 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a market cap of $127.50 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.99 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The stock’s 50 day simple moving average is $412.04 and its 200 day simple moving average is $388.07.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the company posted $8.26 EPS. The business’s revenue was down 32.8% compared to the same quarter last year. As a group, equities research analysts predict that Deere & Company will post 19.52 EPS for the current year.

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.