Deere & Company (NYSE:DE) Sets New 1-Year High – Here’s What Happened

Shares of Deere & Company (NYSE:DE) hit a new 52-week high during trading on Monday . The stock traded as high as $469.99 and last traded at $469.99, with a volume of 578 shares trading hands. The stock had previously closed at $465.90.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup lifted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Bank of America upped their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $436.41.

Deere & Company Stock Down 0.8 %

The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The business has a 50-day simple moving average of $415.29 and a two-hundred day simple moving average of $389.04. The stock has a market capitalization of $125.66 billion, a P/E ratio of 17.94, a PEG ratio of 1.98 and a beta of 0.96.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the prior year, the firm earned $8.26 EPS. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 22.97%.

Institutional Investors Weigh In On Deere & Company

A number of large investors have recently bought and sold shares of the business. Mattern Wealth Management LLC lifted its position in shares of Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares in the last quarter. Carret Asset Management LLC lifted its holdings in Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares in the last quarter. Round Rock Advisors LLC boosted its position in Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after buying an additional 25 shares during the last quarter. Centaurus Financial Inc. increased its stake in shares of Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. raised its position in shares of Deere & Company by 0.7% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after acquiring an additional 26 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

About Deere & Company

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.