NBH Bank Buys Shares of 1,649 Deere & Company $DE

NBH Bank bought a new position in shares of Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,649 shares of the industrial products company’s stock, valued at approximately $1,046,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Cary Street Partners Financial LLC raised its position in shares of Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after buying an additional 1,086 shares during the last quarter. Baxter Bros Inc. acquired a new stake in Deere & Company during the second quarter worth approximately $1,707,000. Global Retirement Partners LLC acquired a new stake in Deere & Company during the second quarter worth approximately $3,890,000. Westpac Banking Corp grew its stake in Deere & Company by 78.6% in the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after acquiring an additional 3,047 shares during the period. Finally, TRB Wealth Management LLC purchased a new stake in Deere & Company in the 2nd quarter worth approximately $623,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Truist Financial lowered their price objective on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research report on Monday, August 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, August 24th. DA Davidson increased their target price on Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Finally, Citigroup raised their price target on Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $680.73.

Deere & Company Stock Down 0.2%

Shares of DE opened at $692.68 on Friday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $705.88. The company’s fifty day moving average is $619.13 and its two-hundred day moving average is $596.29. The firm has a market cap of $186.76 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.75 EPS. Analysts forecast that Deere & Company will post 18.12 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s payout ratio is 36.00%.

Deere & 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.