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

Shares of Deere & Company (NYSE:DEGet Free Report) have received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $458.53.

Several equities research analysts have recently weighed in on the company. Credit Suisse Group reduced their price objective on Deere & Company from $560.00 to $551.00 and set an “outperform” rating for the company in a research note on Monday, August 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Deere & Company from $398.00 to $407.00 and gave the stock a “hold” rating in a research note on Monday, August 21st. Robert W. Baird decreased their target price on Deere & Company from $512.00 to $445.00 in a research report on Monday, May 22nd. DA Davidson raised their target price on Deere & Company from $492.00 to $510.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, Evercore ISI decreased their target price on Deere & Company from $455.00 to $418.00 in a research report on Tuesday, May 9th.

View Our Latest Research Report on DE

Deere & Company Stock Performance

Shares of NYSE DE opened at $418.90 on Friday. The stock has a fifty day moving average price of $417.17 and a two-hundred day moving average price of $399.98. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a market cap of $122.82 billion, a P/E ratio of 12.38, a PEG ratio of 0.90 and a beta of 1.06. Deere & Company has a 1 year low of $328.62 and a 1 year high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings data on Friday, August 18th. The industrial products company reported $10.20 earnings per share for the quarter, topping the consensus estimate of $8.22 by $1.98. The business had revenue of $14.28 billion during the quarter, compared to analyst estimates of $14.14 billion. Deere & Company had a return on equity of 46.15% and a net margin of 16.36%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company posted $6.16 EPS. Research analysts forecast that Deere & Company will post 33.59 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Friday, September 29th will be given a $1.35 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. This represents a $5.40 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, September 28th. Deere & Company’s dividend payout ratio (DPR) is currently 14.78%.

Insider Activity

In other news, insider Cory J. Reed sold 4,680 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $449.75, for a total value of $2,104,830.00. Following the sale, the insider now directly owns 36,563 shares of the company’s stock, valued at $16,444,209.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO John C. May II sold 52,967 shares of Deere & Company stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $416.02, for a total transaction of $22,035,331.34. Following the sale, the chief executive officer now directly owns 109,126 shares of the company’s stock, valued at $45,398,598.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Cory J. Reed sold 4,680 shares of Deere & Company stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $449.75, for a total value of $2,104,830.00. Following the sale, the insider now directly owns 36,563 shares in the company, valued at $16,444,209.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,580 shares of company stock valued at $34,799,115. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Deere & Company

Institutional investors have recently added to or reduced their stakes in the stock. Everett Harris & Co. CA boosted its holdings in Deere & Company by 2.5% during the first quarter. Everett Harris & Co. CA now owns 3,003 shares of the industrial products company’s stock valued at $1,240,000 after purchasing an additional 72 shares in the last quarter. Simplicity Solutions LLC boosted its holdings in Deere & Company by 122.7% during the first quarter. Simplicity Solutions LLC now owns 7,528 shares of the industrial products company’s stock valued at $3,108,000 after purchasing an additional 4,147 shares in the last quarter. Atria Investments Inc boosted its holdings in Deere & Company by 6.8% during the first quarter. Atria Investments Inc now owns 23,705 shares of the industrial products company’s stock valued at $9,781,000 after purchasing an additional 1,511 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Deere & Company by 8.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 143,047 shares of the industrial products company’s stock valued at $59,061,000 after purchasing an additional 10,584 shares in the last quarter. Finally, IPG Investment Advisors LLC acquired a new stake in Deere & Company during the first quarter valued at approximately $1,772,000. 66.27% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

(Get Free Report

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.

Further Reading

Analyst Recommendations for Deere & Company (NYSE:DE)

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