Nicola Wealth Management LTD. Trims Position in Deere & Company $DE

Key Points

• Nicola Wealth Management LTD. reduced its holdings in Deere & Company by 15.2%, selling 7,800 shares, leaving it with 43,500 shares valued at approximately $20.4 million.
• Deere & Company reported $4.75 earnings per share for the most recent quarter, surpassing estimates, despite a 9.0% year-over-year decline in revenue.
• The company also announced a quarterly dividend of $1.62 to be paid on November 10th, reflecting an annualized yield of 1.4%.

Nicola Wealth Management LTD. decreased its position in shares of Deere & Company (NYSE:DE - Free Report) by 15.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 43,500 shares of the industrial products company's stock after selling 7,800 shares during the period. Deere & Company accounts for approximately 2.0% of Nicola Wealth Management LTD.'s portfolio, making the stock its 14th largest holding. Nicola Wealth Management LTD.'s holdings in Deere & Company were worth $20,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC lifted its stake in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after buying an additional 21 shares during the period. Tyler Stone Wealth Management lifted its stake in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after buying an additional 21 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after buying an additional 22 shares during the period. Hayek Kallen Investment Management increased its position in Deere & Company by 1.7% during the first quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company's stock worth $610,000 after purchasing an additional 22 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its position in Deere & Company by 20.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 128 shares of the industrial products company's stock worth $60,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 1.0%

Shares of NYSE:DE opened at $476.24 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 52-week low of $383.10 and a 52-week high of $533.78. The company has a 50 day moving average of $498.30 and a two-hundred day moving average of $490.35. The company has a market capitalization of $128.74 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the company earned $6.29 earnings per share. Deere & Company's revenue for the quarter was down 9.0% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is 33.87%.

Analyst Upgrades and Downgrades

DE has been the subject of several research analyst reports. Truist Financial dropped their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Citigroup cut their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Finally, Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $520.87.

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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