Nisa Investment Advisors LLC Reduces Position in Deere & Company (NYSE:DE)

Nisa Investment Advisors LLC reduced its stake in Deere & Company (NYSE:DE - Free Report) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,115 shares of the industrial products company's stock after selling 725 shares during the quarter. Nisa Investment Advisors LLC's holdings in Deere & Company were worth $45,738,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. grew 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 last quarter. First Bancorp Inc ME grew its stake in shares of Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after buying an additional 23 shares during the last quarter. World Equity Group Inc. grew its stake in shares of Deere & Company by 4.5% during the first quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock valued at $244,000 after buying an additional 24 shares during the last quarter. Coppell Advisory Solutions LLC grew its stake in shares of Deere & Company by 2.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock valued at $432,000 after buying an additional 25 shares during the last quarter. Finally, Glen Eagle Advisors LLC grew its stake in shares of Deere & Company by 0.9% during the fourth quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock valued at $1,244,000 after buying an additional 25 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 0.3%

Shares of DE stock traded up $1.44 during trading hours on Wednesday, hitting $510.35. 1,152,349 shares of the company's stock traded hands, compared to its average volume of 1,353,076. The stock's fifty day simple moving average is $508.42 and its two-hundred day simple moving average is $476.69. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The stock has a market cap of $138.22 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 3.24 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $8.53 earnings per share. On average, analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DE. UBS Group reduced their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Truist Financial increased their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Oppenheimer increased their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Morgan Stanley increased their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. One research 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 company has a consensus rating of "Hold" and a consensus price target of $515.19.

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.