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

by · The Markets Daily

Deere & Company (NYSE:DE – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twenty research firms that are presently covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $426.71.

A number of research analysts recently commented on the stock. Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Stifel Nicolaus increased their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. DA Davidson dropped their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Finally, TD Cowen raised their price target on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th.

Check Out Our Latest Analysis on DE

Insider Activity at Deere & Company

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

Institutional Investors Weigh In On Deere & Company

Hedge funds have recently made changes to their positions in the business. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the last quarter. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Rakuten Securities Inc. bought a new position in shares of Deere & Company in the 4th quarter worth approximately $28,000. Naples Money Management LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $29,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $386.55 on Tuesday. The firm has a market capitalization of $106.52 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. Deere & Company has a 12-month low of $345.93 and a 12-month high of $441.46. The firm has a fifty day moving average of $372.59 and a 200-day moving average of $383.70. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the previous year, the firm posted $9.65 EPS. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.52%. Deere & Company’s dividend payout ratio is currently 17.70%.

About Deere & Company

(Get Free Report

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.

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