Deere & Company (NYSE:DE) Trading Down 0.8%

Deere & Company (NYSE:DE) shares dropped 0.8% during mid-day trading on Tuesday . The stock traded as low as $386.64 and last traded at $390.65. Approximately 616,996 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 1,483,717 shares. The stock had previously closed at $393.80.

Analyst Ratings Changes

DE has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Wells Fargo & Company cut their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Truist Financial started coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Finally, Citigroup cut their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Trading Up 1.0 %

The firm has a 50 day moving average price of $385.17 and a two-hundred day moving average price of $382.66. The company has a market cap of $110.51 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.48 and a beta of 1.04. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the firm posted $6.55 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 27.39 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.48%. Deere & Company’s payout ratio is currently 17.12%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Morgan Stanley increased its position in shares of Deere & Company by 1.3% during the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after acquiring an additional 65,006 shares during the last quarter. FMR LLC increased its position in shares of Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after acquiring an additional 269,571 shares during the last quarter. Parnassus Investments LLC increased its position in shares of Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after acquiring an additional 705,771 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Deere & Company by 104,373.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after acquiring an additional 3,216,801 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $1,248,036,000. 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.