Deere & Company (NYSE:DE) Shares Gap Down to $376.77

Shares of Deere & Company (NYSE:DE) gapped down before the market opened on Tuesday . The stock had previously closed at $376.77, but opened at $365.97. Deere & Company shares last traded at $369.47, with a volume of 365,342 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on DE. Stifel Nicolaus upped their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Citigroup assumed coverage on Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 target price for the company. Morgan Stanley upped their target price on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. TD Cowen upped their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Finally, Daiwa Capital Markets upped their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $426.71.

Deere & Company Price Performance

The company has a market capitalization of $98.63 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93. The company has a 50-day moving average price of $371.29 and a 200-day moving average price of $383.17. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.

Deere & Company (NYSE:DE) last posted its 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. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $9.65 EPS. On average, equities research analysts expect that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Deere & Company

Institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC increased its holdings in shares of 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 worth $26,000 after acquiring an additional 59 shares during the last quarter. Pineridge Advisors LLC grew its holdings in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC acquired a new position in Deere & Company in the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC acquired a new position in Deere & Company in the 4th quarter valued at $29,000. Institutional investors 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.