Analysts Set Deere & Company (NYSE:DE) Price Target at $431.14

Deere & Company (NYSE:DE) has been given a consensus rating of “Moderate Buy” by the twenty research firms that are currently covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $427.66.

A number of analysts have recently issued reports on DE shares. Truist Financial cut their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup started coverage on Deere & Company in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price objective for the company. DA Davidson reduced their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Raymond James started coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective on the stock. Finally, Daiwa Capital Markets boosted their target price on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th.

Deere & Company Trading Down 0.6 %

NYSE DE opened at $362.79 on Friday. The stock has a 50-day simple moving average of $383.26 and a 200 day simple moving average of $386.78. The company has a market capitalization of $99.97 billion, a PE ratio of 10.92, a P/E/G ratio of 1.47 and a beta of 0.93. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the company earned $9.65 earnings per share. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 25.59 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DE. Bank of Nova Scotia grew its stake in shares of Deere & Company by 2.2% during the third quarter. Bank of Nova Scotia now owns 54,660 shares of the industrial products company’s stock valued at $20,625,000 after buying an additional 1,199 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Deere & Company during the third quarter valued at about $101,000. Morningstar Investment Services LLC bought a new position in shares of Deere & Company during the third quarter valued at about $413,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Deere & Company during the third quarter worth about $232,000. Finally, Ancora Advisors LLC boosted its holdings in shares of Deere & Company by 5.8% during the third quarter. Ancora Advisors LLC now owns 925 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 51 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

About Deere & Company

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.