Atria Wealth Solutions Inc. Has $5.21 Million Stock Holdings in Deere & Company (NYSE:DE)

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Deere & Company by 21.7%, owning 11,075 shares valued at $5,205,000 after selling 3,067 shares in the first quarter.
• Analysts have set new price targets for Deere & Company, with DA Davidson maintaining a "buy" rating and a price objective of $542.00, while Morgan Stanley raised its target from $450.00 to $500.00.
• Deere & Company reported earnings of $6.64 EPS for its last quarter, exceeding expectations, while quarterly revenue decreased by 17.9% year-over-year, totaling $11.17 billion.

Atria Wealth Solutions Inc. cut its holdings in Deere & Company (NYSE:DE - Free Report) by 21.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,075 shares of the industrial products company's stock after selling 3,067 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Deere & Company were worth $5,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the first quarter worth $29,000. Cornerstone Planning Group LLC boosted its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Deere & Company during the fourth quarter worth $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company during the fourth quarter worth $39,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Deere & Company during the first quarter worth $45,000. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DE. Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Citigroup lowered their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Barclays lifted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Robert W. Baird lifted their price target on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of "Hold" and a consensus price target of $523.93.

Deere & Company Stock Performance

NYSE DE traded down $5.76 during trading on Monday, reaching $504.62. The company's stock had a trading volume of 272,232 shares, compared to its average volume of 1,325,482. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $136.66 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 3.24 and a beta of 1.06. Deere & Company has a 12 month low of $343.90 and a 12 month high of $533.78. The firm has a 50 day moving average price of $512.47 and a 200 day moving average price of $489.38.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter last year, the business earned $8.53 earnings per share. Deere & Company's revenue was down 17.9% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company's dividend payout ratio is 31.35%.

About Deere & Company

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.