Analysts Set Deere & Company (NYSE:DE) PT at $518.95

Deere & Company (NYSE:DE) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-six analysts that are currently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $518.95.

Several research analysts recently issued reports on the stock. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 1st. JPMorgan Chase & Co. dropped their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Truist Financial lifted their price objective on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Finally, Zacks Research raised Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd.

Deere & Company Stock Down 1.6%

DE stock opened at $475.13 on Friday. Deere & Company has a fifty-two week low of $403.01 and a fifty-two week high of $533.78. The company has a market capitalization of $128.44 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The business’s 50 day moving average price is $467.81 and its two-hundred day moving average price is $488.77. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). The firm had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.55 earnings per share. As a group, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s dividend payout ratio is 35.01%.

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares in the company, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Deere & Company

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares during the period. State Street Corp grew its holdings in shares of Deere & Company by 0.6% in the second quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after acquiring an additional 64,262 shares during the period. Price T Rowe Associates Inc. MD increased its position in Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares during the last quarter. Capital World Investors lifted its holdings in Deere & Company by 5.5% in the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock valued at $2,850,687,000 after acquiring an additional 322,582 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after acquiring an additional 111,627 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.