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

Deere & Company (NYSE:DE) has received an average recommendation of “Hold” from the twenty-one brokerages that are currently covering the company, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $414.11.

DE has been the topic of several analyst reports. TD Cowen upped 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. Daiwa Capital Markets upped their price objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. DA Davidson reduced their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Finally, Truist Financial reaffirmed a “buy” rating and set a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th.

Deere & Company Trading Up 0.0 %

Shares of DE opened at $387.30 on Wednesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $417.46. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $105.97 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.27 and a beta of 0.92. The stock’s 50-day moving average price is $370.01 and its 200 day moving average price is $381.05.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the company posted $10.20 EPS. The company’s revenue was down 20.3% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.52%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DE. True Wealth Design LLC grew its stake in shares of Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Deere & Company during the second quarter worth $26,000. Pineridge Advisors LLC lifted its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the period. Private Wealth Management Group LLC acquired a new position in Deere & Company in the fourth quarter valued at $29,000. Finally, Livelsberger Financial Advisory acquired a new position in Deere & Company in the fourth quarter valued at $30,000. 68.58% of the stock is owned by institutional investors.

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.