Atlas Capital Advisors Inc. Invests $3.23 Million in Deere & Company $DE

Key Points

• Atlas Capital Advisors opened a new position in Deere & Company, buying 6,931 shares valued at about $3.23 million in the fourth quarter.
• Deere reported better-than-expected quarterly results, with EPS of $6.55 versus $5.70 expected and revenue of $13.37 billion versus $11.55 billion estimated. Revenue rose 5.4% from a year earlier.
• The company also announced a quarterly dividend of $1.62 per share, payable August 10, while analysts currently rate the stock a Moderate Buy with a consensus target price of $639.58.

Atlas Capital Advisors Inc. purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,931 shares of the industrial products company's stock, valued at approximately $3,227,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cerro Pacific Wealth Advisors LLC grew its stake in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after acquiring an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock valued at $379,000 after acquiring an additional 19 shares during the last quarter. Root Financial Partners LLC grew its stake in Deere & Company by 2.2% in the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company's stock valued at $410,000 after acquiring an additional 19 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in Deere & Company by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company's stock valued at $360,000 after acquiring an additional 20 shares during the last quarter. Finally, Family Legacy Inc. grew its stake in Deere & Company by 0.3% in the 4th quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company's stock valued at $3,675,000 after acquiring an additional 20 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 1.5%

Shares of DE stock opened at $577.05 on Friday. The firm has a market cap of $155.77 billion, a P/E ratio of 32.69, a PEG ratio of 2.14 and a beta of 0.92. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The firm's 50-day simple moving average is $573.27 and its 200-day simple moving average is $548.89.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter last year, the firm posted $6.64 earnings per share. Deere & Company's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DE shares. Bank of America lowered their price objective on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Oppenheimer reaffirmed an "outperform" rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Morgan Stanley raised their price target on shares of Deere & Company from $560.00 to $730.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Wells Fargo & Company raised their price target on shares of Deere & Company from $543.00 to $750.00 and gave the stock an "overweight" rating in a research note on Friday, February 20th. Finally, UBS Group raised their price target on shares of Deere & Company from $535.00 to $775.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $639.58.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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