Deere & Company (NYSE:DE) Trading Up 1%

Deere & Company (NYSE:DE)’s stock price traded up 1% during mid-day trading on Tuesday . The company traded as high as $405.62 and last traded at $403.64. 238,297 shares traded hands during trading, a decline of 84% from the average session volume of 1,473,313 shares. The stock had previously closed at $399.61.

Analyst Upgrades and Downgrades

DE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Stifel Nicolaus lowered their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Citigroup cut their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Evercore ISI increased their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Trading Down 0.2 %

The firm has a 50-day simple moving average of $386.06 and a 200-day simple moving average of $383.26. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The stock has a market cap of $111.04 billion, a PE ratio of 11.75, a P/E/G ratio of 1.50 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period in the previous year, the company posted $6.55 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 27.4 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DE. Morgan Stanley raised its stake in Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. FMR LLC increased its holdings in shares of Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after buying an additional 269,571 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Norges Bank purchased a new position in Deere & Company in the fourth quarter worth $1,248,036,000. Finally, Northern Trust Corp increased its stake in Deere & Company by 2.5% in the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after acquiring an additional 73,601 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other 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.