Nixon Peabody Trust Co. Has $14.45 Million Stock Position in Deere & Company (NYSE:DE)

Nixon Peabody Trust Co. increased its stake in shares of Deere & Company (NYSE:DE) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,101 shares of the industrial products company’s stock after purchasing an additional 105 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Deere & Company were worth $14,449,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Pineridge Advisors LLC increased its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the 4th quarter valued at $34,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at $35,000. Finally, Continuum Advisory LLC lifted its position in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DE has been the subject of several recent research reports. Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Evercore ISI increased their price objective on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Citigroup lifted their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Truist Financial restated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $454.65.

Deere & Company Price Performance

NYSE:DE opened at $480.25 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market capitalization of $130.80 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 2.14 and a beta of 0.98. The business has a 50 day simple moving average of $456.95 and a 200-day simple moving average of $425.63.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is currently 28.72%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.