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

Deere & Company (NYSE:DE) has been assigned an average rating of “Moderate Buy” from the twenty-four brokerages that are covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $524.20.

Several equities analysts recently commented on DE shares. Royal Bank Of Canada dropped their target price on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research note on Friday, November 28th. DA Davidson restated a “buy” rating and issued a $580.00 price target on shares of Deere & Company in a report on Monday, December 1st. BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a research note on Tuesday, December 9th. Jefferies Financial Group increased their price objective on shares of Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Finally, Wolfe Research boosted their target price on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, January 2nd.

Deere & Company Stock Performance

Shares of DE opened at $599.90 on Wednesday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $626.25. The company’s 50 day simple moving average is $513.04 and its 200 day simple moving average is $488.37. The company has a market capitalization of $162.61 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 2.40 and a beta of 1.02. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same quarter last year, the firm posted $4.55 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is currently 35.01%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the transaction, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 64,578 shares of company stock valued at $32,471,682. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mid American Wealth Advisory Group Inc. acquired a new position in Deere & Company during the 2nd quarter worth approximately $25,000. Strategic Advocates LLC acquired a new stake in Deere & Company in the third quarter valued at approximately $25,000. Howard Hughes Medical Institute purchased a new stake in shares of Deere & Company during the second quarter valued at approximately $27,000. Key Capital Management INC acquired a new position in shares of Deere & Company during the fourth quarter worth $27,000. Finally, Timmons Wealth Management LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.