Deere & Company (NYSE:DE) Trading Up 1%

Deere & Company (NYSE:DE)’s share price traded up 1% during mid-day trading on Thursday . The stock traded as high as $391.82 and last traded at $391.37. 398,189 shares changed hands during trading, a decline of 73% from the average session volume of 1,453,001 shares. The stock had previously closed at $387.50.

Analyst Ratings Changes

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

Deere & Company Stock Performance

The stock has a market cap of $111.61 billion, a P/E ratio of 11.67, a PEG ratio of 1.49 and a beta of 1.04. The stock has a 50-day simple moving average of $390.73 and a 200-day simple moving average of $383.84. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last issued its quarterly 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 return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the prior year, the firm posted $6.55 earnings per share. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Research analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The firm 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 dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. Deere & Company’s payout ratio is currently 17.12%.

Hedge Funds Weigh In On Deere & Company

Several institutional investors have recently added to or reduced their stakes in DE. Pinnacle Associates Ltd. increased its stake in Deere & Company by 21.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after purchasing an additional 5,485 shares during the period. New Mexico Educational Retirement Board grew its position in Deere & Company by 6.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after purchasing an additional 900 shares during the period. Summit Asset Management LLC grew its position in Deere & Company by 24.1% in the 4th quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 200 shares during the period. Finally, Centric Wealth Management bought a new position in shares of Deere & Company in the third quarter valued at $2,640,000. 68.58% of the stock is 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.