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

Deere & Company (NYSE:DE) has been assigned an average recommendation of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $443.94.

DE has been the topic of several research reports. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Truist Financial raised their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday. Citigroup upped their price target on Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Oppenheimer increased their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DE. Stockbridge Partners LLC boosted its stake in Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Toronto Dominion Bank raised its holdings in Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after buying an additional 1,291 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after buying an additional 2,692 shares in the last quarter. Chase Investment Counsel Corp grew its holdings in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 1,400 shares during the last quarter. Finally, Balentine LLC bought a new stake in shares of Deere & Company during the third quarter worth about $710,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.1 %

Shares of DE opened at $426.63 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a market capitalization of $115.86 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. The stock has a fifty day moving average of $422.95 and a two-hundred day moving average of $394.29. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

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 $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the firm posted $8.26 EPS. As a group, analysts forecast that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.52%. Deere & Company’s dividend payout ratio is 25.31%.

About Deere & Company

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.