Deere & Company (NYSE:DE) Shares Bought by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. lifted its position in shares of Deere & Company (NYSE:DE) by 429.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,558 shares of the industrial products company’s stock after purchasing an additional 27,215 shares during the quarter. Deere & Company accounts for approximately 1.5% of Nixon Peabody Trust Co.’s portfolio, making the stock its 27th largest holding. Nixon Peabody Trust Co.’s holdings in Deere & Company were worth $13,419,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Skopos Labs Inc. purchased a new position in shares of Deere & Company in the fourth quarter valued at approximately $561,000. Congress Wealth Management LLC DE grew its holdings in Deere & Company by 2.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 5,309 shares of the industrial products company’s stock worth $2,123,000 after acquiring an additional 136 shares during the period. HCR Wealth Advisors raised its holdings in Deere & Company by 12.4% during the fourth quarter. HCR Wealth Advisors now owns 3,871 shares of the industrial products company’s stock worth $1,548,000 after purchasing an additional 427 shares during the last quarter. Team Hewins LLC purchased a new position in shares of Deere & Company during the 4th quarter worth approximately $745,000. Finally, Cypress Asset Management Inc. TX acquired a new stake in shares of Deere & Company during the 4th quarter worth about $2,406,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock traded down $4.27 during midday trading on Friday, hitting $374.97. The company’s stock had a trading volume of 1,511,575 shares, compared to its average volume of 1,475,338. The company has a 50-day moving average price of $399.93 and a two-hundred day moving average price of $386.42. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The company has a market cap of $104.38 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.54 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period in the previous year, the firm posted $9.65 EPS. The firm’s revenue was down 15.4% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 25.8 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Friday, March 29th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.57%. The ex-dividend date was Wednesday, March 27th. Deere & Company’s payout ratio is currently 17.70%.

Analyst Ratings Changes

A number of analysts recently issued reports on DE shares. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. TD Cowen boosted their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Wells Fargo & Company cut their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Finally, Evercore ISI upped their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $432.92.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.