Deere & Company (NYSE:DE) Stock Price Down 1.8%

Deere & Company (NYSE:DE) shares fell 1.8% on Thursday . The stock traded as low as $384.14 and last traded at $387.59. 357,680 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 1,466,361 shares. The stock had previously closed at $394.62.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DE. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Citigroup reduced their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Evercore ISI lifted their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Finally, Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Stock Down 0.2 %

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The stock has a 50-day moving average of $387.86 and a two-hundred day moving average of $383.61. The company has a market cap of $109.49 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $6.55 EPS. On average, research analysts anticipate that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid 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 yield of 1.49%. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

Hedge Funds Weigh In On Deere & Company

Several hedge funds have recently made changes to their positions in DE. Briaud Financial Planning Inc purchased a new position in shares of Deere & Company during the third quarter valued at approximately $25,000. True Wealth Design LLC increased its stake in shares of Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. ZRC Wealth Management LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Finally, Naples Money Management LLC purchased a new stake in Deere & Company in the fourth quarter worth $29,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.