Deere & Company (NYSE:DE) Price Target Cut to $448.00 by Analysts at Oppenheimer

Deere & Company (NYSE:DE) had its price target trimmed by Oppenheimer from $465.00 to $448.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other equities research analysts have also issued reports on DE. Stifel Nicolaus upped their price target on Deere & Company from $425.00 to $450.00 and gave the company a buy rating in a research report on Friday, May 17th. JPMorgan Chase & Co. dropped their price target on Deere & Company from $385.00 to $375.00 and set a neutral rating on the stock in a research report on Thursday, July 11th. TD Cowen upped their price target on Deere & Company from $383.00 to $390.00 and gave the company a hold rating in a research report on Friday, May 17th. Raymond James assumed coverage on Deere & Company in a research report on Friday, June 28th. They set an outperform rating and a $420.00 price target on the stock. Finally, Morgan Stanley upped their price objective on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $426.71.

Deere & Company Stock Performance

Shares of DE opened at $381.56 on Monday. The business’s 50 day moving average is $372.80 and its two-hundred day moving average is $383.84. Deere & Company has a 52-week low of $345.93 and a 52-week high of $446.71. The firm has a market cap of $105.15 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.50 and a beta of 0.93. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $13.29 billion. During the same period in the prior year, the company posted $9.65 EPS. Deere & Company’s quarterly revenue was down 15.4% on a year-over-year basis. Analysts forecast that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.54%. Deere & Company’s payout ratio is 17.70%.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Deere & Company

Institutional investors have recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. Pineridge Advisors LLC lifted its holdings in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $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.