B. Riley Wealth Advisors Inc. Sells 5,142 Shares of Deere & Company (NYSE:DE)

B. Riley Wealth Advisors Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 27.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 13,721 shares of the industrial products company’s stock after selling 5,142 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Deere & Company were worth $5,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DE. Fairscale Capital LLC bought a new stake in Deere & Company during the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the third quarter valued at approximately $32,000. Centennial Bank AR grew its holdings in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Continuum Advisory LLC raised its position in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the last quarter. Finally, Briaud Financial Planning Inc lifted its stake in Deere & Company by 73.5% during the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $440.44 on Friday. The business’s fifty day moving average is $420.61 and its 200 day moving average is $392.67. The firm has a market cap of $120.50 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.91 and a beta of 0.96. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the prior year, the company posted $8.26 EPS. Research analysts predict that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

Analysts Set New Price Targets

Several brokerages have recently commented on DE. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Truist Financial increased their price target on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and an average target price of $443.28.

Deere & Company Profile

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.