Deere & Company (NYSE:DE) Given Consensus Recommendation of “Hold” by Analysts

Deere & Company (NYSE:DE) has earned an average rating of “Hold” from the twenty-two research firms that are presently covering the company, Marketbeat reports. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $431.61.

Several equities analysts have recently issued reports on DE shares. UBS Group boosted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Oppenheimer lifted their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial increased their target price on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th.

Hedge Funds Weigh In On Deere & Company

Institutional investors and hedge funds have recently bought and sold shares of the stock. SkyView Investment Advisors LLC increased its stake in shares of Deere & Company by 6.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,098 shares of the industrial products company’s stock worth $458,000 after acquiring an additional 68 shares in the last quarter. M&T Bank Corp increased its stake in shares of Deere & Company by 4.0% during the third quarter. M&T Bank Corp now owns 170,325 shares of the industrial products company’s stock valued at $71,081,000 after purchasing an additional 6,520 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Deere & Company by 0.6% during the third quarter. TCW Group Inc. now owns 50,274 shares of the industrial products company’s stock valued at $20,981,000 after purchasing an additional 296 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Deere & Company by 3.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,979 shares of the industrial products company’s stock worth $826,000 after purchasing an additional 74 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Deere & Company by 29.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 847 shares of the industrial products company’s stock worth $354,000 after buying an additional 192 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $446.65 on Monday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $447.50. The stock has a 50-day simple moving average of $406.99 and a 200 day simple moving average of $386.22. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $122.20 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the business posted $8.26 EPS. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. Deere & Company’s dividend payout ratio is presently 22.97%.

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.