NBT Bank N A NY Lowers Stake in Deere & Company (NYSE:DE)

NBT Bank N A NY lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,945 shares of the industrial products company's stock after selling 1,738 shares during the period. Deere & Company makes up 1.1% of NBT Bank N A NY's investment portfolio, making the stock its 19th largest holding. NBT Bank N A NY's holdings in Deere & Company were worth $15,463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. grew its stake in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after buying an additional 5,053 shares during the last quarter. Spectrum Financial Alliance Ltd LLC raised its stake in Deere & Company by 2.9% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock valued at $21,021,000 after buying an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Deere & Company in the fourth quarter worth $847,000. BankPlus Trust Department purchased a new stake in shares of Deere & Company in the fourth quarter worth $1,127,000. Finally, Stenger Family Office LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth $3,144,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DE shares. BMO Capital Markets reaffirmed a "market perform" rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Evercore ISI lifted their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Morgan Stanley raised their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Finally, Truist Financial upped their price objective on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $515.19.

Deere & Company Stock Performance

Shares of DE opened at $524.27 on Tuesday. The firm has a market capitalization of $141.99 billion, a P/E ratio of 23.24, a PEG ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The business has a fifty day moving average of $489.49 and a 200 day moving average of $468.95.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period last year, the firm posted $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

About Deere & Company

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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