29,030 Shares in Deere & Company $DE Purchased by NBT Bank N.A.

NBT Bank N.A. purchased a new stake in Deere & Company (NYSE:DE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 29,030 shares of the industrial products company’s stock, valued at approximately $19,495,000. Deere & Company makes up 1.3% of NBT Bank N.A.’s portfolio, making the stock its 15th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC increased its holdings in Deere & Company by 21.5% during the 3rd quarter. Root Financial Partners LLC now owns 1,047 shares of the industrial products company’s stock worth $703,000 after purchasing an additional 185 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in Deere & Company in the 3rd quarter valued at about $298,000. JSF Financial LLC raised its position in Deere & Company by 17.9% in the 3rd quarter. JSF Financial LLC now owns 1,434 shares of the industrial products company’s stock valued at $963,000 after purchasing an additional 218 shares in the last quarter. Marion Wealth Management raised its position in Deere & Company by 1.0% in the 3rd quarter. Marion Wealth Management now owns 3,852 shares of the industrial products company’s stock valued at $2,587,000 after purchasing an additional 40 shares in the last quarter. Finally, Cardinal Capital Management boosted its stake in shares of Deere & Company by 2.2% in the 3rd quarter. Cardinal Capital Management now owns 28,186 shares of the industrial products company’s stock valued at $18,974,000 after buying an additional 597 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DE. Evercore raised Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price objective for the company in a research report on Wednesday, September 2nd. Citigroup upped their target price on shares of Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $585.00 to $625.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Nomura upgraded shares of Deere & Company to a “buy” rating in a research note on Monday, August 31st. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $688.10.

Deere & Company Trading Up 1.1%

NYSE:DE opened at $643.25 on Friday. The stock has a 50-day simple moving average of $659.66 and a 200-day simple moving average of $614.01. The stock has a market cap of $173.43 billion, a P/E ratio of 35.74, a P/E/G ratio of 2.33 and a beta of 0.86. Deere & Company has a 1 year low of $454.50 and a 1 year high of $721.22. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10.

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, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the business posted $4.75 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s payout ratio is presently 36.00%.

Deere & Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.