NBT Bank N A NY Sells 848 Shares of Deere & Company $DE

NBT Bank N A NY trimmed its stake in Deere & Company (NYSE:DE) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,280 shares of the industrial products company’s stock after selling 848 shares during the quarter. 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 and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Brighton Jones LLC boosted its holdings in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 150 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Deere & Company during the second quarter valued at approximately $2,153,000. NewEdge Advisors LLC raised its position in shares of Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after purchasing an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC raised its position in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.0%

Shares of Deere & Company stock opened at $621.09 on Friday. The company has a market capitalization of $167.66 billion, a P/E ratio of 35.19, a price-to-earnings-growth ratio of 2.30 and a beta of 0.89. The stock has a fifty day simple moving average of $578.41 and a 200 day simple moving average of $562.69. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

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

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on DE. Oppenheimer reissued an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Barclays raised their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Raymond James Financial decreased their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Finally, Truist Financial upped their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $642.23.

About Deere & Company

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.