Deere & Company (NYSE:DE) Receives New Coverage from Analysts at HSBC

HSBC assumed coverage on shares of Deere & Company (NYSE:DE) in a report published on Friday, MarketBeat reports. The firm issued a buy rating and a $486.00 price target on the industrial products company’s stock.

Several other brokerages have also recently weighed in on DE. Stifel Nicolaus dropped their price target on shares of Deere & Company from $493.00 to $460.00 and set a buy rating on the stock in a research report on Monday, August 21st. BMO Capital Markets dropped their target price on shares of Deere & Company from $450.00 to $425.00 in a research report on Monday, June 5th. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $390.00 to $380.00 and set a neutral rating on the stock in a research report on Monday, August 21st. UBS Group lifted their price target on shares of Deere & Company from $383.00 to $408.00 and gave the stock a neutral rating in a report on Monday, August 21st. Finally, Morgan Stanley lowered their price target on shares of Deere & Company from $537.00 to $517.00 in a report on Monday, May 22nd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $459.90.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $410.77 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 1.65. The business has a 50-day moving average price of $417.81 and a two-hundred day moving average price of $398.87. Deere & Company has a 1-year low of $328.62 and a 1-year high of $450.00. The company has a market cap of $118.30 billion, a P/E ratio of 12.14, a PEG ratio of 0.93 and a beta of 1.07.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, August 18th. The industrial products company reported $10.20 EPS for the quarter, beating the consensus estimate of $8.22 by $1.98. The company had revenue of $14.28 billion during the quarter, compared to the consensus estimate of $14.14 billion. Deere & Company had a return on equity of 46.15% and a net margin of 16.36%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $6.16 EPS. As a group, analysts anticipate that Deere & Company will post 33.9 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Friday, September 29th will be given a dividend of $1.35 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. The ex-dividend date is Thursday, September 28th. This represents a $5.40 dividend on an annualized basis and a yield of 1.31%. Deere & Company’s dividend payout ratio is 14.78%.

Insider Activity at Deere & Company

In other Deere & Company news, CEO John C. May II sold 52,967 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $416.02, for a total value of $22,035,331.34. Following the transaction, the chief executive officer now directly owns 109,126 shares in the company, valued at $45,398,598.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO John C. May II sold 52,967 shares of Deere & Company stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $416.02, for a total transaction of $22,035,331.34. Following the transaction, the chief executive officer now owns 109,126 shares in the company, valued at approximately $45,398,598.52. The transaction was disclosed in a filing 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 on Tuesday, July 25th. The shares were sold at an average price of $449.75, for a total transaction of $2,104,830.00. Following the transaction, the insider now owns 36,563 shares in the company, valued at approximately $16,444,209.25. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Institutional Trading of Deere & Company

Large investors have recently made changes to their positions in the business. Everett Harris & Co. CA grew its holdings in Deere & Company by 2.5% during the 1st 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 during the last quarter. Simplicity Solutions LLC grew its stake in Deere & Company by 122.7% in the 1st quarter. Simplicity Solutions LLC now owns 7,528 shares of the industrial products company’s stock worth $3,108,000 after acquiring an additional 4,147 shares in the last quarter. Atria Investments Inc lifted its position in shares of Deere & Company by 6.8% in the 1st quarter. Atria Investments Inc now owns 23,705 shares of the industrial products company’s stock worth $9,781,000 after purchasing an additional 1,511 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Deere & Company by 9.3% in the 1st quarter. Advisors Asset Management Inc. now owns 24,638 shares of the industrial products company’s stock worth $10,173,000 after purchasing an additional 2,103 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Deere & Company by 8.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 143,047 shares of the industrial products company’s stock worth $59,061,000 after purchasing an additional 10,584 shares during the period. 66.27% of the stock is currently owned by institutional investors.

Deere & Company Company Profile

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.