NBC Securities Inc. Has $884,000 Stock Position in Deere & Company $DE

Key Points

• NBC Securities Inc. significantly reduced its stake in Deere & Company by 88.9%, selling 13,978 shares and now holding only 1,739 shares valued at $884,000.
• In contrast, other large investors, such as Assenagon Asset Management, increased their positions in Deere, with Assenagon raising its stake by 58.9%.
• Deere & Company reported a quarterly earnings per share (EPS) of $4.75, exceeding estimates, though its revenue decreased 9.0% compared to the same quarter last year.

NBC Securities Inc. lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 88.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,739 shares of the industrial products company's stock after selling 13,978 shares during the quarter. NBC Securities Inc.'s holdings in Deere & Company were worth $884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Activest Wealth Management boosted its position in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC boosted its position in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the 4th quarter valued at about $34,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. dropped their price target on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 2nd. Truist Financial lowered their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Finally, Evercore ISI set a $491.00 price target on Deere & Company in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $517.27.

Deere & Company Stock Up 1.5%

Deere & Company stock traded up $7.06 during midday trading on Thursday, hitting $476.18. 1,784,969 shares of the company were exchanged, compared to its average volume of 1,278,571. The company's fifty day moving average price is $494.93 and its 200-day moving average price is $490.02. The company has a market cap of $128.73 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company posted $6.29 EPS. Deere & Company's quarterly revenue was down 9.0% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's payout ratio is 33.87%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.