Deere & Company (NYSE:DE) Receives $431.14 Consensus PT from Brokerages

Shares of Deere & Company (NYSE:DE) have earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $430.55.

A number of equities research analysts have weighed in on the company. TD Cowen boosted their price objective on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, May 17th. Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. DA Davidson reduced their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Finally, Morgan Stanley upped their price target on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $373.63 on Friday. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The company has a market cap of $102.96 billion, a PE ratio of 11.25, a P/E/G ratio of 1.50 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The business has a 50-day simple moving average of $385.32 and a 200-day simple moving average of $387.29.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the company posted $9.65 earnings per share. On average, equities research analysts forecast that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DE. True Wealth Design LLC boosted its stake in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC bought a new stake in shares of Deere & Company during the 4th quarter worth about $29,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Deere & Company during the 4th quarter worth about $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.