Deere & Company $DE Shares Sold by NBT Bank N A NY

Key Points

• NBT Bank N A NY decreased its holdings in Deere & Company by 2.6% during the 2nd quarter, now owning 32,072 shares valued at approximately $16.3 million.
• Deere & Company's recent quarterly earnings report showed a net margin of 11.72% with EPS of $4.75, exceeding analyst expectations of $4.62.
• The company announced a quarterly dividend of $1.62 per share, payable on November 10th, resulting in an annualized dividend yield of 1.4%.

NBT Bank N A NY decreased its position in Deere & Company (NYSE:DE - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,072 shares of the industrial products company's stock after selling 873 shares during the quarter. Deere & Company comprises approximately 1.1% of NBT Bank N A NY's holdings, making the stock its 20th largest position. NBT Bank N A NY's holdings in Deere & Company were worth $16,308,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DE. Activest Wealth Management lifted its holdings in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company during the first quarter valued at $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company during the second quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the second quarter valued at $39,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of DE stock opened at $461.08 on Wednesday. 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. The stock's 50-day moving average is $482.54 and its two-hundred day moving average is $488.94. The firm has a market cap of $124.64 billion, a P/E ratio of 24.10, a PEG ratio of 2.94 and a beta of 1.02.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate 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 firm posted $6.29 EPS. The business's revenue was down 9.0% compared to the same quarter last year. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on DE shares. Daiwa Capital Markets reduced their target price on Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, September 25th. DA Davidson reduced their target price on Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a report on Monday, August 18th. Oppenheimer reduced their target price on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a report on Thursday, September 18th. Wall Street Zen raised Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Wolfe Research reduced their price objective on Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $518.18.

Deere & 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.

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