Deere & Company (NYSE:DE) Given Average Recommendation of “Buy” by Brokerages

Shares of Deere & Company (NYSE:DEGet Rating) have earned an average recommendation of “Buy” from the seventeen research firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $439.94.

A number of equities research analysts have commented on DE shares. Robert W. Baird lifted their target price on shares of Deere & Company from $425.00 to $475.00 in a research report on Friday, January 7th. JPMorgan Chase & Co. raised shares of Deere & Company from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $440.00 in a research report on Monday, March 28th. Oppenheimer boosted their price objective on shares of Deere & Company from $425.00 to $432.00 and gave the company an “outperform” rating in a research report on Tuesday, February 22nd. StockNews.com started coverage on shares of Deere & Company in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wells Fargo & Company started coverage on shares of Deere & Company in a research report on Friday, March 11th. They set an “overweight” rating and a $455.00 price objective for the company.

In other news, insider Pentz Markwart Von sold 18,364 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $393.00, for a total transaction of $7,217,052.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rajesh Kalathur sold 32,391 shares of the company’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $400.00, for a total transaction of $12,956,400.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of DE. Morgan Stanley grew its stake in Deere & Company by 5.7% in the 2nd quarter. Morgan Stanley now owns 2,479,850 shares of the industrial products company’s stock worth $874,668,000 after acquiring an additional 133,091 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Deere & Company by 1.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 10,402 shares of the industrial products company’s stock valued at $3,485,000 after purchasing an additional 101 shares in the last quarter. Whittier Trust Co. boosted its stake in Deere & Company by 3.6% in the third quarter. Whittier Trust Co. now owns 24,022 shares of the industrial products company’s stock valued at $8,049,000 after acquiring an additional 824 shares in the last quarter. Nordea Investment Management AB boosted its stake in Deere & Company by 118.8% in the third quarter. Nordea Investment Management AB now owns 423,210 shares of the industrial products company’s stock valued at $146,350,000 after acquiring an additional 229,811 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Deere & Company by 29.3% in the third quarter. SG Americas Securities LLC now owns 33,526 shares of the industrial products company’s stock valued at $11,234,000 after acquiring an additional 7,599 shares in the last quarter. Institutional investors own 65.28% of the company’s stock.

Shares of NYSE DE opened at $437.82 on Wednesday. Deere & Company has a twelve month low of $320.50 and a twelve month high of $445.53. The firm has a market cap of $134.32 billion, a P/E ratio of 24.27, a PEG ratio of 1.42 and a beta of 1.00. The company has a 50 day moving average of $398.51 and a 200 day moving average of $371.07. The company has a quick ratio of 1.94, a current ratio of 2.25 and a debt-to-equity ratio of 1.84.

Deere & Company (NYSE:DEGet Rating) last announced its quarterly earnings data on Friday, February 18th. The industrial products company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.64. Deere & Company had a net margin of 12.69% and a return on equity of 33.65%. The company had revenue of $8.53 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same period in the previous year, the business earned $3.87 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 22.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 9th. Shareholders of record on Thursday, March 31st will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, March 30th. Deere & Company’s payout ratio is currently 23.28%.

Deere & Company Company Profile (Get Rating)

Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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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Analyst Recommendations for Deere & Company (NYSE:DE)

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