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

Shares of Deere & Company (NYSE:DE) have been given an average rating of “Moderate Buy” by the twenty-three ratings firms that are presently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $639.5750.

Several research analysts recently weighed in on DE shares. Argus raised their target price on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Oppenheimer restated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Citigroup reduced their target price on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Raymond James Financial reduced their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd.

Institutional Trading of Deere & Company

Large investors have recently added to or reduced their stakes in the business. Western Wealth Management LLC boosted its stake in Deere & Company by 31.6% in the 1st quarter. Western Wealth Management LLC now owns 1,771 shares of the industrial products company’s stock worth $997,000 after purchasing an additional 425 shares during the period. FAS Wealth Partners Inc. boosted its stake in Deere & Company by 7.1% in the 1st quarter. FAS Wealth Partners Inc. now owns 1,801 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 120 shares during the period. Farmers National Bank boosted its stake in Deere & Company by 37.4% in the 1st quarter. Farmers National Bank now owns 1,826 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 497 shares during the period. Evansbrook LLC boosted its stake in Deere & Company by 6.7% in the 1st quarter. Evansbrook LLC now owns 1,402 shares of the industrial products company’s stock worth $790,000 after purchasing an additional 88 shares during the period. Finally, DV Trading LLC boosted its stake in Deere & Company by 266.7% in the 1st quarter. DV Trading LLC now owns 440 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 320 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

DE opened at $598.81 on Tuesday. The firm has a market cap of $161.64 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company’s 50-day moving average price is $573.34 and its 200 day moving average price is $554.17. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the prior year, the firm earned $6.64 EPS. Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

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.