Deere & Company (NYSE:DE) Receives Average Recommendation of “Hold” from Analysts

Shares of Deere & Company (NYSE:DE) have earned a consensus recommendation of “Hold” from the nineteen analysts that are covering the firm, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $516.75.

Several equities research analysts recently weighed in on DE shares. Morgan Stanley boosted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Robert W. Baird boosted their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Evercore ISI boosted their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. Finally, Oppenheimer lifted their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th.

Deere & Company Trading Down 1.1%

Shares of DE opened at $509.83 on Monday. The company’s fifty day moving average is $472.60 and its 200 day moving average is $458.36. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The stock has a market capitalization of $138.37 billion, a PE ratio of 22.60, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the previous year, the business posted $8.53 earnings per share. Deere & Company’s quarterly revenue was down 17.9% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a dividend of $1.62 per share. The ex-dividend date was Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Institutional Trading of Deere & Company

Institutional investors and hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC raised its holdings in shares of Deere & Company by 39.1% in the fourth quarter. Park Avenue Securities LLC now owns 4,724 shares of the industrial products company’s stock valued at $2,001,000 after acquiring an additional 1,328 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Deere & Company by 17.5% in the fourth quarter. Ritholtz Wealth Management now owns 3,419 shares of the industrial products company’s stock valued at $1,449,000 after acquiring an additional 510 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Deere & Company by 11.8% in the fourth quarter. Merit Financial Group LLC now owns 8,464 shares of the industrial products company’s stock valued at $3,586,000 after acquiring an additional 890 shares in the last quarter. Lake Street Private Wealth LLC raised its holdings in shares of Deere & Company by 19.9% in the fourth quarter. Lake Street Private Wealth LLC now owns 777 shares of the industrial products company’s stock valued at $329,000 after acquiring an additional 129 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. raised its holdings in shares of Deere & Company by 5.4% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 5,998 shares of the industrial products company’s stock valued at $2,541,000 after acquiring an additional 307 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

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.