Deere & Company (NYSE:DE) PT Lowered to $465.00 at DA Davidson

Deere & Company (NYSE:DE) had its price target reduced by DA Davidson from $483.00 to $465.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for Deere & Company’s Q3 2024 earnings at $5.32 EPS, FY2024 earnings at $25.33 EPS and FY2025 earnings at $27.91 EPS.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Deere & Company from $425.00 to $450.00 and gave the stock a buy rating in a report on Friday, May 17th. Morgan Stanley increased their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Deere & Company from $425.00 to $401.00 and set a hold rating on the stock in a research report on Friday, February 16th. Oppenheimer restated an outperform rating and issued a $456.00 target price on shares of Deere & Company in a report on Thursday, May 16th. Finally, 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 report on Wednesday, May 15th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has an average rating of Moderate Buy and a consensus target price of $432.92.

Deere & Company Stock Down 0.2 %

Deere & Company stock opened at $385.87 on Monday. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The firm’s fifty day moving average is $399.95 and its 200 day moving average is $386.47. The company has a market capitalization of $107.41 billion, a PE ratio of 11.62, a PEG ratio of 1.51 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the prior year, the company posted $9.65 earnings per share. The business’s revenue was down 15.4% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 26.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Friday, March 29th were paid a dividend of $1.47 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Atria Investments Inc grew its stake in shares of Deere & Company by 4.6% during the 1st quarter. Atria Investments Inc now owns 17,181 shares of the industrial products company’s stock valued at $7,050,000 after acquiring an additional 763 shares during the period. Swedbank AB bought a new position in shares of Deere & Company during the 1st quarter valued at approximately $191,628,000. Sanibel Captiva Trust Company Inc. grew its stake in shares of Deere & Company by 2.5% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 9,119 shares of the industrial products company’s stock valued at $3,746,000 after acquiring an additional 221 shares during the period. LRI Investments LLC purchased a new position in Deere & Company in the 1st quarter worth approximately $901,000. Finally, Bluefin Capital Management LLC lifted its holdings in Deere & Company by 938.2% in the 1st quarter. Bluefin Capital Management LLC now owns 35,300 shares of the industrial products company’s stock worth $14,499,000 after purchasing an additional 31,900 shares in the last quarter. 68.58% of the stock is currently owned by 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.