Deere & Company (NYSE:DE) Hits New 1-Year High at $419.44

Deere & Company (NYSE:DE)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $419.44 and last traded at $419.06, with a volume of 246927 shares changing hands. The stock had previously closed at $411.47.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DE shares. Bank of America upped their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Oppenheimer dropped their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. dropped their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $410.50.

Deere & Company Trading Up 1.6 %

The stock has a market cap of $115.19 billion, a P/E ratio of 12.58, a PEG ratio of 1.36 and a beta of 0.92. The firm’s fifty day moving average price is $379.51 and its two-hundred day moving average price is $384.12. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.20 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

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 is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. Deere & Company’s dividend payout ratio is presently 17.70%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DE. True Wealth Design LLC increased its stake in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares during the last quarter. Fairscale Capital LLC purchased a new stake in Deere & Company during the second quarter valued at about $26,000. Pineridge Advisors LLC boosted its position in Deere & Company by 725.0% during 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. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the fourth quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management purchased a new stake in Deere & Company during the fourth quarter valued at about $33,000. Institutional investors own 68.58% of the company’s stock.

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.