Analysts Set Deere & Company (NYSE:DE) PT at $511.76

Deere & Company (NYSE:DE) has been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $517.3529.

Several brokerages recently commented on DE. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. DA Davidson cut their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Wolfe Research cut their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Finally, Robert W. Baird cut their target price on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new position in shares of Deere & Company in the second quarter valued at approximately $25,000. Howard Hughes Medical Institute bought a new position in shares of Deere & Company in the second quarter valued at approximately $27,000. Activest Wealth Management lifted its holdings in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new position in shares of Deere & Company in the first quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.3%

Shares of DE stock opened at $458.63 on Thursday. The stock has a market cap of $123.98 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.95 and a beta of 1.02. The stock has a 50-day moving average of $473.24 and a 200-day moving average of $487.60. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78.

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

Deere & Company Dividend Announcement

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

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.