NBT Bank N.A. Makes New Investment in Deere & Company $DE

NBT Bank N.A. acquired a new position in shares of Deere & Company (NYSE:DE) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 29,030 shares of the industrial products company’s stock, valued at approximately $19,495,000. Deere & Company comprises approximately 1.3% of NBT Bank N.A.’s investment portfolio, making the stock its 15th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. acquired a new position in Deere & Company in the second quarter valued at about $11,763,504,000. Wellington Management Group LLP boosted its stake in Deere & Company by 84.3% during the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock worth $1,959,209,000 after buying an additional 1,412,694 shares during the period. Bank of America Corp DE purchased a new position in Deere & Company during the second quarter worth about $1,685,093,000. Bank of New York Mellon Corp purchased a new position in Deere & Company during the second quarter worth about $1,259,279,000. Finally, Legal & General Group Plc acquired a new stake in shares of Deere & Company during the second quarter valued at about $957,456,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DE shares. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, September 21st. DA Davidson upped their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a report on Monday, August 24th. Bank of America increased their price objective on shares of Deere & Company from $667.00 to $715.00 in a research report on Thursday, September 24th. Finally, Citigroup lifted their target price on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Price Performance

DE stock opened at $643.25 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $173.43 billion, a PE ratio of 35.74, a P/E/G ratio of 2.33 and a beta of 0.86. Deere & Company has a 12-month low of $454.50 and a 12-month high of $721.22. The business’s fifty day moving average price is $659.66 and its 200 day moving average price is $614.01.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the company earned $4.75 EPS. Deere & Company’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders 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 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s dividend payout ratio is 36.00%.

Deere & Company 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.