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

Shares of Deere & Company (NYSE:DE) have been given an average recommendation of “Moderate Buy” by the twenty-four ratings firms that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $524.20.

Several equities research analysts have issued reports on the company. BMO Capital Markets restated a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a report on Tuesday, December 9th. Morgan Stanley restated an “overweight” rating and issued a $560.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Wells Fargo & Company initiated coverage on shares of Deere & Company in a report on Thursday, November 13th. They issued an “overweight” rating and a $543.00 price target on the stock. Daiwa Securities Group decreased their price objective on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a report on Tuesday, December 2nd. Finally, UBS Group reissued a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th.

Deere & Company Stock Performance

NYSE:DE opened at $599.90 on Wednesday. The firm has a 50-day moving average of $513.04 and a two-hundred day moving average of $488.37. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The stock has a market cap of $162.61 billion, a P/E ratio of 32.41, a PEG ratio of 2.40 and a beta of 1.02. Deere & Company has a 1-year low of $404.42 and a 1-year high of $626.25.

Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the previous year, the firm posted $4.55 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Wednesday, December 31st were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Deere & Company’s payout ratio is currently 35.01%.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares in the company, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 64,578 shares of company stock worth $32,471,682. 0.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cerro Pacific Wealth Advisors LLC grew its stake in shares of Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after purchasing an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares in the last quarter. Root Financial Partners LLC lifted its holdings in Deere & Company by 2.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock worth $410,000 after buying an additional 19 shares during the last quarter. Prairie Wealth Advisors Inc. boosted its position in shares of Deere & Company by 2.1% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $492,000 after acquiring an additional 20 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in shares of Deere & Company by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 20 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.