Deere & Company (NYSE:DE) Receives Average Rating of “Hold” from Analysts

Deere & Company (NYSE:DE) has earned an average rating of “Hold” from the twenty analysts that are presently covering the stock, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $410.50.

A number of research firms have recently issued reports on DE. Morgan Stanley cut their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Bank of America boosted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Citigroup dropped their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, Raymond James initiated coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company.

Deere & Company Stock Down 0.2 %

NYSE DE opened at $407.99 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock’s 50 day moving average is $383.08 and its two-hundred day moving average is $385.15. The company has a market capitalization of $112.43 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.36 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47.

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 analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the business earned $10.20 earnings per share. Equities analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business 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. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DE. Campbell & CO Investment Adviser LLC bought a new stake in Deere & Company during the 4th quarter worth about $603,000. First Trust Advisors LP lifted its position in Deere & Company by 22.3% during the 4th quarter. First Trust Advisors LP now owns 75,832 shares of the industrial products company’s stock worth $30,323,000 after buying an additional 13,833 shares in the last quarter. Exencial Wealth Advisors LLC lifted its position in Deere & Company by 8.7% during the 4th quarter. Exencial Wealth Advisors LLC now owns 648 shares of the industrial products company’s stock worth $259,000 after buying an additional 52 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Deere & Company by 14.5% in the 4th quarter. Stephens Inc. AR now owns 8,112 shares of the industrial products company’s stock valued at $3,244,000 after purchasing an additional 1,028 shares during the period. Finally, Morningstar Investment Services LLC raised its holdings in shares of Deere & Company by 79.2% in the 4th quarter. Morningstar Investment Services LLC now owns 1,925 shares of the industrial products company’s stock valued at $769,000 after purchasing an additional 851 shares during the period. 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.