Deere & Company (NYSE:DE) has received an average recommendation of “Buy” from the twenty-four analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $157.70.
Several research firms have recently commented on DE. Citigroup lifted their target price on Deere & Company from $165.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Barclays set a $176.00 target price on Deere & Company and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Seaport Global Securities reissued a “hold” rating on shares of Deere & Company in a research note on Thursday, January 18th. ValuEngine raised Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $184.00 target price (up from $161.00) on shares of Deere & Company in a research note on Wednesday, January 17th.
Shares of Deere & Company (DE) traded up $2.56 on Wednesday, reaching $163.86. The company’s stock had a trading volume of 2,101,230 shares, compared to its average volume of 2,273,034. The company has a current ratio of 2.12, a quick ratio of 1.95 and a debt-to-equity ratio of 2.71. Deere & Company has a 52-week low of $106.72 and a 52-week high of $171.96. The company has a market cap of $52,600.00, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.38 and a beta of 0.75.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, December 29th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) is presently 36.09%.
In other Deere & Company news, insider Max A. Guinn sold 11,235 shares of Deere & Company stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $168.68, for a total transaction of $1,895,119.80. Following the transaction, the insider now directly owns 39,406 shares in the company, valued at $6,647,004.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Rajesh Kalathur sold 4,519 shares of Deere & Company stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total value of $672,969.48. Following the transaction, the chief financial officer now owns 36,288 shares in the company, valued at $5,404,008.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 187,603 shares of company stock valued at $28,058,143. 0.74% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. National Asset Management Inc. bought a new stake in shares of Deere & Company in the second quarter valued at about $214,000. Verition Fund Management LLC lifted its holdings in shares of Deere & Company by 73.8% in the second quarter. Verition Fund Management LLC now owns 5,681 shares of the industrial products company’s stock valued at $702,000 after purchasing an additional 2,412 shares in the last quarter. Colony Group LLC bought a new stake in shares of Deere & Company in the second quarter valued at about $289,000. WINTON GROUP Ltd lifted its holdings in shares of Deere & Company by 478.7% in the second quarter. WINTON GROUP Ltd now owns 91,430 shares of the industrial products company’s stock valued at $11,300,000 after purchasing an additional 75,631 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Deere & Company in the second quarter valued at about $744,000. Hedge funds and other institutional investors own 66.84% of the company’s stock.
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About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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