Brokerages Set Deere & Company (NYSE:DE) Target Price at $422.35

Shares of Deere & Company (NYSE:DE) have earned a consensus rating of “Hold” from the twenty-one analysts that are covering the firm, MarketBeat reports. Thirteen investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $415.50.

A number of brokerages have weighed in on DE. TD Cowen lifted their price objective on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Morgan Stanley upped their price objective on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. DA Davidson reduced their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Finally, Bank of America raised their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th.

Deere & Company Price Performance

Deere & Company stock opened at $381.18 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The business has a 50 day simple moving average of $367.88 and a 200-day simple moving average of $379.99. Deere & Company has a 12 month low of $340.20 and a 12 month high of $423.35. The stock has a market capitalization of $105.04 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.20 EPS. Equities analysts predict that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were paid a dividend of $1.47 per share. The ex-dividend date was Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Hedge funds have recently modified their holdings of the stock. True Wealth Design LLC boosted its holdings in shares of Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares during the last quarter. Fairscale Capital LLC acquired a new position in Deere & Company in the second quarter valued at $26,000. Pineridge Advisors LLC grew its position in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Rakuten Securities Inc. acquired a new stake in Deere & Company during the fourth quarter worth about $28,000. Finally, Naples Money Management LLC purchased a new position in shares of Deere & Company in the 4th quarter worth about $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.