Nixon Peabody Trust Co. Sells 2,585 Shares of Deere & Company $DE

Nixon Peabody Trust Co. lowered its position in shares of Deere & Company (NYSE:DE) by 10.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,345 shares of the industrial products company’s stock after selling 2,585 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Deere & Company were worth $12,024,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Evolution Wealth Management Inc. increased its position in Deere & Company by 6,900.0% during the first quarter. Evolution Wealth Management Inc. now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 69 shares during the period. QRG Capital Management Inc. boosted its holdings in Deere & Company by 10.3% in the 1st quarter. QRG Capital Management Inc. now owns 14,720 shares of the industrial products company’s stock valued at $8,292,000 after purchasing an additional 1,371 shares during the period. HB Wealth Management LLC boosted its holdings in Deere & Company by 13.0% in the 1st quarter. HB Wealth Management LLC now owns 15,233 shares of the industrial products company’s stock valued at $8,581,000 after purchasing an additional 1,757 shares during the period. PFG Investments LLC grew its position in shares of Deere & Company by 2.0% during the 1st quarter. PFG Investments LLC now owns 5,995 shares of the industrial products company’s stock worth $3,377,000 after purchasing an additional 120 shares in the last quarter. Finally, BIP Wealth LLC grew its position in shares of Deere & Company by 18.5% during the 1st quarter. BIP Wealth LLC now owns 628 shares of the industrial products company’s stock worth $354,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $621.09 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm has a market cap of $167.66 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.30 and a beta of 0.89. The company’s 50-day moving average price is $578.41 and its two-hundred day moving average price is $562.69.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the previous year, the company earned $6.64 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Citigroup lowered their target price on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Truist Financial boosted their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Wolfe Research raised their price objective on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Finally, Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a report on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average price target of $642.23.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.