Nixon Peabody Trust Co. Sells 2,585 Shares of Deere & Company $DE

Nixon Peabody Trust Co. cut its holdings in Deere & Company (NYSE:DE) by 10.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,345 shares of the industrial products company’s stock after selling 2,585 shares during the period. Nixon Peabody Trust Co.’s holdings in Deere & Company were worth $12,024,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DE. Strategic Advocates LLC acquired a new stake in Deere & Company in the 3rd quarter valued at $25,000. Key Capital Management INC bought a new stake in Deere & Company during the 4th quarter worth about $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $29,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $30,000. Finally, Portus Wealth Advisors LLC bought a new position in shares of Deere & Company in the 1st quarter valued at about $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $621.09 on Friday. The firm has a market capitalization of $167.66 billion, a PE ratio of 35.19, a PEG ratio of 2.30 and a beta of 0.89. The company’s 50-day moving average is $578.41 and its 200-day moving average is $562.69. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week 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.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DE. Bank of America lowered their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Oppenheimer reissued an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Raymond James Financial decreased their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $642.23.

Deere & 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.