Deere & Company (NYSE:DE) Shares Cross Above 200-Day Moving Average – Here’s Why

Deere & Company (NYSE:DE)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $397.66 and traded as high as $427.89. Deere & Company shares last traded at $424.64, with a volume of 792,479 shares changing hands.

Wall Street Analyst Weigh In

DE has been the topic of a number of analyst reports. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial upped their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup raised their price target on Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Finally, Morgan Stanley upped their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $443.94.

Deere & Company Stock Performance

The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a fifty day simple moving average of $426.31 and a two-hundred day simple moving average of $397.66. The stock has a market cap of $115.32 billion, a PE ratio of 16.59, a PEG ratio of 1.91 and a beta of 0.96.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the firm earned $8.26 earnings per share. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 19.52 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.53%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s payout ratio is presently 25.31%.

Institutional Trading of Deere & Company

A number of hedge funds have recently made changes to their positions in DE. Hantz Financial Services Inc. bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $405,000. IFG Advisory LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $536,000. Farther Finance Advisors LLC lifted its holdings in shares of Deere & Company by 40.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,531 shares of the industrial products company’s stock worth $1,275,000 after purchasing an additional 1,011 shares during the last quarter. Summit Financial LLC grew its stake in Deere & Company by 20.6% during the 2nd quarter. Summit Financial LLC now owns 3,874 shares of the industrial products company’s stock worth $1,453,000 after buying an additional 663 shares during the last quarter. Finally, Claro Advisors LLC grew its stake in Deere & Company by 28.6% during the 2nd quarter. Claro Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $433,000 after buying an additional 258 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

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.