Deere & Company (NYSE:DE) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Deere & Company (NYSE:DE) in a research note released on Thursday, Marketbeat reports. The brokerage issued an overweight rating on the industrial products company’s stock.

Several other analysts have also recently commented on DE. Zacks Research cut shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Royal Bank Of Canada initiated coverage on shares of Deere & Company in a report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price for the company. Sanford C. Bernstein increased their price target on Deere & Company from $487.00 to $521.00 and gave the stock a “market perform” rating in a research report on Thursday. Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. Finally, Oppenheimer decreased their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $520.05.

Deere & Company Stock Up 0.5%

Shares of DE stock opened at $475.76 on Thursday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a fifty-two week low of $390.00 and a fifty-two week high of $533.78. The firm has a market capitalization of $128.61 billion, a PE ratio of 24.87, a P/E/G ratio of 3.05 and a beta of 1.04. The stock’s 50-day simple moving average is $466.04 and its 200-day simple moving average is $490.89.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the firm earned $6.29 earnings per share. Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Institutional Trading of Deere & Company

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Deere & Company by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after buying an additional 309,081 shares in the last quarter. State Street Corp raised its position in Deere & Company by 0.6% during the second quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after acquiring an additional 64,262 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Capital World Investors lifted its holdings in Deere & Company by 5.5% during the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock valued at $2,850,687,000 after purchasing an additional 322,582 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after purchasing an additional 111,627 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.