Brokerages Set Deere & Company (NYSE:DE) Target Price at $517.27

Deere & Company (NYSE:DE) has been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $518.0625.

Several equities analysts have recently issued reports on DE shares. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Oppenheimer cut their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. DA Davidson cut their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Robert W. Baird cut their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th.

Deere & Company Stock Performance

DE opened at $467.43 on Friday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a market cap of $126.36 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The firm’s 50-day moving average price is $490.39 and its 200-day moving average price is $489.74.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the company posted $6.29 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is 33.87%.

Hedge Funds Weigh In On Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its holdings in Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after buying an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 798 shares during the period. Providence Capital Advisors LLC grew its stake in shares of Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after purchasing an additional 303 shares during the period. Bragg Financial Advisors Inc grew its stake in shares of Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after purchasing an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $13,588,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.