Deere & Company (NYSE:DE) Trading Down 0.7%

Shares of Deere & Company (NYSE:DE) traded down 0.7% during mid-day trading on Monday . The company traded as low as $392.18 and last traded at $397.60. 362,943 shares were traded during trading, a decline of 75% from the average session volume of 1,481,221 shares. The stock had previously closed at $400.32.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley assumed coverage on Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Citigroup cut their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Performance

The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The firm has a 50-day simple moving average of $386.42 and a two-hundred day simple moving average of $383.39. The company has a market capitalization of $110.59 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04.

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, 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 company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period in the prior year, the firm posted $6.55 EPS. The business’s revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Briaud Financial Planning Inc bought a new stake in Deere & Company during the 3rd quarter valued at approximately $25,000. True Wealth Design LLC boosted its stake in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares during the period. ZRC Wealth Management LLC bought a new stake in Deere & Company during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $28,000. Finally, Naples Money Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds 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.