Deere & Company (NYSE:DE) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Deere & Company (NYSE:DE) have been given an average rating of “Moderate Buy” by the twenty-three analysts that are covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $642.9750.

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Truist Financial upped their price objective on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Bank of America decreased their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, DA Davidson reissued a “buy” rating and issued a $685.00 target price on shares of Deere & Company in a report on Friday, July 17th.

Institutional Trading of Deere & Company

A number of large investors have recently made changes to their positions in DE. Key Capital Management INC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $27,000. Timmons Wealth Management LLC purchased a new position in Deere & Company in the fourth quarter worth about $29,000. McIlrath & Eck LLC purchased a new position in Deere & Company in the fourth quarter worth about $30,000. Portus Wealth Advisors LLC bought a new stake in Deere & Company during the first quarter worth approximately $32,000. Finally, Wealth Watch Advisors INC bought a new stake in Deere & Company during the third quarter worth approximately $32,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Up 3.0%

Shares of Deere & Company stock opened at $628.32 on Friday. The firm has a market cap of $169.61 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 2.57 and a beta of 0.89. The business has a 50-day moving average price of $585.05 and a 200-day moving average price of $576.08. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.64 earnings per share. Equities research analysts anticipate that Deere & Company will post 18.28 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.