Deere & Company (NYSE:DE) Trading Up 0.3%

Deere & Company (NYSE:DE) rose 0.3% during trading on Friday . The stock traded as high as $402.98 and last traded at $402.00. Approximately 185,763 shares were traded during trading, a decline of 87% from the average daily volume of 1,483,497 shares. The stock had previously closed at $400.60.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Morgan Stanley initiated coverage on shares of Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price for the company. Evercore ISI raised their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company cut their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Performance

The business’s fifty day simple moving average is $385.47 and its 200-day simple moving average is $382.79. The firm has a market cap of $111.39 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

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

Deere & Company Announces Dividend

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 paid a dividend of $1.47 per share. The ex-dividend date of this dividend 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 presently 17.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. RB Capital Management LLC lifted its stake in shares of Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after purchasing an additional 81 shares during the period. Bornite Capital Management LP purchased a new position in Deere & Company during the first quarter valued at $14,541,000. Retirement Income Solutions Inc bought a new stake in shares of Deere & Company during the 1st quarter valued at $229,000. Sequoia Financial Advisors LLC grew its position in shares of Deere & Company by 27.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after buying an additional 521 shares during the period. Finally, Baird Financial Group Inc. increased its stake in shares of Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after acquiring an additional 27,985 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.