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

Deere & Company (NYSE:DE) has been given an average recommendation of “Hold” by the twenty brokerages that are covering the firm, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $443.94.

Several research analysts recently issued reports on DE shares. Oppenheimer increased their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th.

Institutional Trading of Deere & Company

Several hedge funds have recently made changes to their positions in DE. Mattern Wealth Management LLC increased its position in shares of Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 25 shares during the last quarter. Carret Asset Management LLC boosted its position in shares of Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 25 shares during the period. Round Rock Advisors LLC increased its holdings in Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 25 shares during the last quarter. Douglas Lane & Associates LLC raised its position in Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 25 shares during the period. Finally, Centaurus Financial Inc. lifted its stake in Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 5.3 %

DE stock opened at $430.17 on Tuesday. The firm has a fifty day moving average price of $428.56 and a 200 day moving average price of $400.45. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a market cap of $117.69 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the company earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 19.41 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 22.97%.

Deere & Company Company Profile

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.