Deere & Company (NYSE:DE) Receives Average Rating of “Moderate Buy” from Analysts

Deere & Company (NYSE:DE) has been assigned an average rating of “Moderate Buy” from the twenty-six brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $518.95.

A number of equities analysts have recently weighed in on the company. Oppenheimer increased their target price on Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. Royal Bank Of Canada lowered their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, November 28th. Truist Financial lifted their target price on Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a report on Friday, November 28th. Robert W. Baird decreased their price target on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, Sanford C. Bernstein lifted their price objective on shares of Deere & Company from $487.00 to $521.00 and gave the stock a “market perform” rating in a research note on Thursday, November 13th.

Deere & Company Stock Performance

Shares of NYSE DE opened at $482.60 on Friday. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78. The company has a market capitalization of $130.46 billion, a P/E ratio of 26.07, a P/E/G ratio of 1.77 and a beta of 1.00. The stock has a 50 day moving average of $467.58 and a 200-day moving average of $489.59. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the prior year, the company earned $4.55 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s payout ratio is 35.01%.

Insider Transactions at Deere & Company

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the transaction, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of Deere & Company

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Deere & Company by 1.4% during the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares during the period. State Street Corp raised its position in shares of Deere & Company by 0.6% in the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock valued at $5,297,913,000 after buying an additional 64,262 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the period. Capital World Investors lifted its holdings in shares of Deere & Company by 5.5% during the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after acquiring an additional 322,582 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Deere & Company by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after acquiring an additional 111,627 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.