Deere & Company (NYSE:DE) Research Coverage Started at BMO Capital Markets

BMO Capital Markets started coverage on shares of Deere & Company (NYSE:DE) in a report published on Friday morning, Marketbeat.com reports. The firm issued a market perform rating and a $400.00 price objective on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. Truist Financial dropped their price target on Deere & Company from $460.00 to $439.00 and set a buy rating for the company in a research report on Tuesday, July 2nd. Daiwa Capital Markets raised their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an overweight rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. lowered their price target on Deere & Company from $385.00 to $375.00 and set a neutral rating for the company in a report on Thursday, July 11th. DA Davidson reduced their price objective on Deere & Company from $483.00 to $465.00 and set a buy rating on the stock in a report on Monday, May 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a hold rating for the company in a research report on Thursday. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of Hold and a consensus price target of $424.78.

Deere & Company Price Performance

Deere & Company stock traded up $0.78 during midday trading on Friday, reaching $346.81. 392,299 shares of the stock traded hands, compared to its average volume of 1,523,936. The stock’s fifty day moving average is $368.46 and its 200-day moving average is $381.60. Deere & Company has a 12 month low of $340.20 and a 12 month high of $438.39. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The stock has a market cap of $95.57 billion, a P/E ratio of 10.42, a PEG ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same period last year, the company posted $9.65 EPS. The business’s revenue was down 15.4% on a year-over-year basis. As a group, equities research analysts anticipate that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were given a $1.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.70%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC lifted its position 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 purchasing an additional 59 shares during the last quarter. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Rakuten Securities Inc. purchased a new position in Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC acquired a new position in Deere & Company in the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC acquired a new position in Deere & Company in the fourth quarter valued at $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

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.