B. Riley Wealth Advisors Inc. Sells 4,028 Shares of Deere & Company (NYSE:DE)

B. Riley Wealth Advisors Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 17.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,863 shares of the industrial products company’s stock after selling 4,028 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Deere & Company were worth $7,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of DE. True Wealth Design LLC raised its holdings in shares of Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Fairscale Capital LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC grew its stake in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in Deere & Company in the 4th quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management purchased a new position in Deere & Company in the 4th quarter valued at approximately $33,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DE shares. Raymond James began coverage on shares of Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. Truist Financial restated a “buy” rating and set a $443.00 price target (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $410.50.

Deere & Company Stock Performance

Deere & Company stock opened at $417.33 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $115.00 billion, a PE ratio of 12.56, a P/E/G ratio of 1.36 and a beta of 0.92. The firm has a fifty day simple moving average of $380.26 and a two-hundred day simple moving average of $384.41. Deere & Company has a twelve month low of $340.20 and a twelve month high of $419.63.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $10.20 earnings per share. Research analysts expect that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 17.70%.

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.