Deere & Company (NYSE:DE) Stock Price Down 0.2%

Shares of Deere & Company (NYSE:DE) traded down 0.2% during mid-day trading on Wednesday . The company traded as low as $386.64 and last traded at $393.01. 1,865,373 shares changed hands during mid-day trading, an increase of 46% from the average session volume of 1,279,511 shares. The stock had previously closed at $393.80.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus reduced their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Evercore ISI upped their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Truist Financial started coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Finally, Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Up 0.9 %

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company has a market capitalization of $111.51 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. The firm’s 50-day simple moving average is $385.47 and its 200-day simple moving average is $382.79.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

Institutional Trading of Deere & Company

Several institutional investors have recently made changes to their positions in DE. Moneta Group Investment Advisors LLC boosted its position in shares of Deere & Company by 104,373.8% during the 4th 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 in the last quarter. Norges Bank acquired a new position in Deere & Company in the fourth quarter valued at about $1,248,036,000. Viking Global Investors LP acquired a new position in Deere & Company in the fourth quarter valued at about $562,442,000. International Assets Investment Management LLC boosted its position in Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after buying an additional 838,813 shares in the last quarter. Finally, Parnassus Investments LLC boosted its position in Deere & Company by 22.4% in 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 buying an additional 705,771 shares in the last quarter. 68.58% of the stock is currently 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.