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

Shares of Deere & Company (NYSE:DEGet Free Report) have been given an average rating of “Moderate Buy” by the twenty-four brokerages that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $638.0750.

A number of brokerages recently issued reports on DE. Wolfe Research raised their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. BMO Capital Markets boosted their price target on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Barclays increased their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Robert W. Baird dropped their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Deere & Company from $736.00 to $752.00 and gave the company an “outperform” rating in a research note on Tuesday.

Read Our Latest Stock Report on Deere & Company

Deere & Company Price Performance

NYSE:DE opened at $539.02 on Friday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The firm has a market cap of $145.59 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The company’s 50-day moving average is $572.85 and its two-hundred day moving average is $542.07. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.64 earnings per share. Research analysts expect that Deere & Company will post 18.08 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

More Deere & Company News

Here are the key news stories impacting Deere & Company this week:

Institutional Investors Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Advocates LLC bought a new stake in Deere & Company in the third quarter valued at about $25,000. Key Capital Management INC bought a new position in Deere & Company during the 4th quarter worth approximately $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $29,000. Activest Wealth Management grew its position in shares of Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 27 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at approximately $30,000. Institutional investors own 68.58% of the company’s stock.

About Deere & Company

(Get Free Report)

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.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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