Deere & Company (NYSE:DE) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Deere & Company (NYSE:DE) has been given a consensus rating of “Moderate Buy” by the twenty-five ratings firms that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $686.10.

Several research firms have weighed in on DE. Bank of America raised their price target on Deere & Company from $667.00 to $715.00 in a research report on Thursday, September 24th. Truist Financial decreased their price objective on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research report on Monday, August 24th. Raymond James Financial boosted their price objective on shares of Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. UBS Group lowered their price objective on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. Finally, Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a report on Friday, August 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Deere & Company in the second quarter worth $11,763,504,000. Capital World Investors boosted its stake in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Deere & Company during the second quarter valued at $1,685,093,000. Bank of New York Mellon Corp purchased a new stake in Deere & Company during the 2nd quarter worth about $1,259,279,000. Finally, Legal & General Group Plc purchased a new stake in Deere & Company during the 2nd quarter worth about $957,456,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $682.51 on Thursday. The stock has a market cap of $184.02 billion, a P/E ratio of 37.92, a P/E/G ratio of 2.51 and a beta of 0.86. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The stock’s 50 day simple moving average is $651.60 and its 200 day simple moving average is $607.24. Deere & Company has a 1-year low of $433.00 and a 1-year high of $721.22.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. The firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.Deere & Company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $4.75 EPS. As a group, equities analysts anticipate that Deere & Company will post 18.12 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 0.9%. Deere & Company’s dividend payout ratio is currently 36.00%.

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.