Deere & Company (NYSE:DE) Receives $431.14 Average PT from Brokerages

Shares of Deere & Company (NYSE:DE) have received an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $427.66.

DE has been the subject of a number of recent analyst reports. 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 report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Raymond James assumed coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. DA Davidson decreased their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Finally, Morgan Stanley increased their price objective on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th.

Deere & Company Trading Up 1.1 %

DE stock opened at $364.95 on Friday. The business has a fifty day moving average price of $384.54 and a 200 day moving average price of $387.09. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. The stock has a market capitalization of $100.57 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 1.50 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same period last year, the firm posted $9.65 EPS. The business’s revenue was down 15.4% on a year-over-year basis. Analysts expect that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insider Buying and Selling at Deere & Company

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 shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DE. Bank of Nova Scotia boosted its position in Deere & Company by 2.2% during the third quarter. Bank of Nova Scotia now owns 54,660 shares of the industrial products company’s stock valued at $20,625,000 after acquiring an additional 1,199 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Deere & Company during the third quarter valued at $101,000. Morningstar Investment Services LLC bought a new stake in Deere & Company during the third quarter valued at $413,000. Sherbrooke Park Advisers LLC bought a new stake in Deere & Company during the third quarter valued at $232,000. Finally, Ancora Advisors LLC boosted its position in Deere & Company by 5.8% during the third quarter. Ancora Advisors LLC now owns 925 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 51 shares during the last quarter. 68.58% of the stock is currently 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.