Deere & Company (NYSE:DE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Deere & Company (NYSE:DE) have been assigned an average rating of “Moderate Buy” from the twenty research firms that are currently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $426.71.

Several research analysts have weighed in on the stock. Raymond James assumed coverage on shares of Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. Morgan Stanley upped their price target on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Citigroup initiated coverage on Deere & Company in a research report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price objective for the company. TD Cowen boosted their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Finally, Oppenheimer cut their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company 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 transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Several hedge funds have recently modified their holdings of the business. Nations Financial Group Inc. IA ADV raised its stake in Deere & Company by 0.8% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 10,284 shares of the industrial products company’s stock valued at $3,843,000 after purchasing an additional 83 shares during the last quarter. Minneapolis Portfolio Management Group LLC grew its position in Deere & Company by 1.1% in the 2nd quarter. Minneapolis Portfolio Management Group LLC now owns 65,589 shares of the industrial products company’s stock worth $24,506,000 after purchasing an additional 737 shares during the last quarter. F M Investments LLC increased its holdings in shares of Deere & Company by 132.3% during the 2nd quarter. F M Investments LLC now owns 1,394 shares of the industrial products company’s stock worth $521,000 after purchasing an additional 794 shares during the period. FAS Wealth Partners Inc. raised its position in shares of Deere & Company by 2.8% during the second quarter. FAS Wealth Partners Inc. now owns 1,711 shares of the industrial products company’s stock valued at $639,000 after buying an additional 47 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Deere & Company by 5.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,580 shares of the industrial products company’s stock valued at $45,052,000 after buying an additional 6,434 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $376.82 on Tuesday. The company has a market capitalization of $103.84 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 1.57 and a beta of 0.93. Deere & Company has a 1-year low of $345.93 and a 1-year high of $441.46. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock’s fifty day simple moving average is $372.29 and its 200-day simple moving average is $383.53.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.65 EPS. On average, sell-side analysts predict that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.56%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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.