Raymond James Begins Coverage on Deere & Company (NYSE:DE)

Raymond James started coverage on shares of Deere & Company (NYSE:DE) in a report released on Friday, MarketBeat reports. The brokerage issued an outperform rating and a $420.00 price target on the industrial products company’s stock.

Several other equities analysts have also issued reports on DE. Truist Financial started coverage on Deere & Company in a research note on Thursday, March 14th. They issued a buy rating and a $494.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $425.00 to $385.00 and set a neutral rating for the company in a research note on Friday, May 17th. DA Davidson reduced their price target 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. TD Cowen raised their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a hold rating in a research report on Friday, May 17th. Finally, Stifel Nicolaus upped their target price on Deere & Company from $425.00 to $450.00 and gave the company a buy rating in a research report on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $430.55.

Deere & Company Trading Down 0.8 %

NYSE:DE opened at $373.63 on Friday. The firm has a 50-day simple moving average of $385.32 and a 200-day simple moving average of $387.29. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The firm has a market cap of $102.96 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.50 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping 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 company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the prior year, the business earned $9.65 earnings per share. Deere & Company’s revenue was down 15.4% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. True Wealth Design LLC boosted its holdings in 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 worth $26,000 after buying an additional 59 shares in the last quarter. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at about $28,000. Rakuten Securities Inc. purchased a new position in shares of Deere & Company in the 4th quarter valued at about $28,000. Finally, Naples Money Management LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at about $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

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.