Deere & Company (NYSE:DE) Stock Rated “Moderate Buy” by Wall Street Brokerages

Deere & Company (NYSE:DE) has been given a consensus rating of “Moderate Buy” by the twenty-five research firms that are presently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $688.10.

A number of analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Evercore upgraded Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price target for the company in a research report on Wednesday, September 2nd. Bank of America upped their price objective on shares of Deere & Company from $667.00 to $715.00 in a report on Thursday, September 24th. Raymond James Financial increased their price objective on shares of Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Finally, Truist Financial dropped their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a report on Monday, August 24th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC bought a new position in Deere & Company during the 2nd quarter valued at about $27,000. Kilter Group LLC acquired a new position in shares of Deere & Company in the 2nd quarter worth approximately $29,000. Solstein Capital LLC bought a new stake in Deere & Company during the 2nd quarter worth approximately $30,000. Portus Wealth Advisors LLC acquired a new stake in Deere & Company during the 1st quarter valued at $32,000. Finally, Orion Capital Management LLC acquired a new position in Deere & Company in the second quarter worth $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company News Summary

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Deere was largely insulated from the machinery-sector selloff that hit Caterpillar after its moderate outlook. The relative resilience suggests investors viewed Deere’s farm-equipment exposure and outlook more favorably. Caterpillar Drops 7% as Moderate Sales Outlook Overshadows Beat; Deere Sits Out the Selloff
• Positive Sentiment: Analysts highlighted smart-farming technology, automation and cost controls as potential support for Deere, particularly as long-term agricultural demand and equipment investment improve. Zacks Industry Outlook Highlights Deere & Co., Kubota and CNH Industrial
• Positive Sentiment: One valuation analysis estimates Deere may be undervalued by approximately 16%, with cybersecurity developments adding a potential catalyst if the company can strengthen its technology and risk-management position. Deere Stock May Be 16% Undervalued on AI Cyberattack News
• Neutral Sentiment: Analysts expect Deere’s upcoming fourth-quarter report to show a single-digit increase in profit, keeping earnings expectations in focus ahead of the release. Deere & Company’s Earnings: What to Expect
• Negative Sentiment: Wheat’s prolonged decline is pressuring farmers’ incomes and balance sheets, which could eventually reduce demand for new agricultural equipment or delay replacement purchases. Farmers Are Getting Crushed as Wheat Slides for a Record Stretch

Deere & Company Trading Up 2.3%

NYSE:DE opened at $675.03 on Monday. The stock has a market cap of $182.00 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.41 and a beta of 0.86. Deere & Company has a one year low of $454.50 and a one year high of $721.22. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The business’s 50-day simple moving average is $663.79 and its 200 day simple moving average is $604.16.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the previous year, the business earned $4.75 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s payout ratio is 36.00%.

About Deere & Company

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.