NBT Bank N A NY Cuts Position in Deere & Company $DE

NBT Bank N A NY cut its holdings in Deere & Company (NYSE:DE) by 2.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 30,280 shares of the industrial products company’s stock after selling 848 shares during the period. Deere & Company comprises about 1.1% of NBT Bank N A NY’s holdings, making the stock its 20th biggest position. NBT Bank N A NY’s holdings in Deere & Company were worth $17,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of DE. Vanguard Group Inc. boosted its position in Deere & Company by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after purchasing an additional 198,332 shares during the last quarter. State Street Corp increased its position in shares of Deere & Company by 0.9% during the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after purchasing an additional 97,049 shares during the last quarter. Capital World Investors increased its position in shares of Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Deere & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock worth $3,581,574,000 after purchasing an additional 158,584 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Deere & Company by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after purchasing an additional 17,269 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DE shares. Citigroup dropped their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Wolfe Research lifted their target price on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. upped their price objective on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $642.23.

Deere & Company Trading Down 0.0%

Shares of DE opened at $621.09 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $167.66 billion, a P/E ratio of 35.19, a PEG ratio of 2.30 and a beta of 0.89. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The firm has a fifty day simple moving average of $578.41 and a two-hundred day simple moving average of $562.69.

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

Deere & Company Dividend Announcement

The business also recently announced 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 of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s payout ratio is presently 36.71%.

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.