Deere & Company (NYSE:DE) Receives Consensus Rating of “Moderate Buy” from Analysts

Deere & Company (NYSE:DEGet Free Report) has been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $431.69.

A number of equities research analysts recently issued reports on the company. Morgan Stanley started coverage on Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. Citigroup lowered their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Evercore ISI raised their price target on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Truist Financial assumed coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th.

Get Our Latest Stock Analysis on Deere & Company

Deere & Company Stock Up 0.3 %

Shares of DE opened at $398.86 on Wednesday. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The business has a fifty day moving average of $379.33 and a 200 day moving average of $381.43. The company has a market cap of $111.03 billion, a PE ratio of 11.62, a P/E/G ratio of 1.50 and a beta of 1.03. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.55 EPS. On average, sell-side analysts expect that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Institutional Trading of Deere & Company

Several large investors have recently bought and sold shares of the stock. Morgan Stanley raised its stake in shares of Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after purchasing an additional 65,006 shares during the last quarter. Geode Capital Management LLC increased its holdings in Deere & Company by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 4,890,455 shares of the industrial products company’s stock worth $1,975,565,000 after buying an additional 83,329 shares during the period. FMR LLC raised its position in Deere & Company by 6.6% during the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after buying an additional 269,571 shares during the last quarter. Parnassus Investments LLC lifted its stake in Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after acquiring an additional 705,771 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after acquiring an additional 3,216,801 shares during the period. Hedge funds and other institutional investors own 66.27% of the company’s stock.

Deere & Company Company Profile

(Get Free Report

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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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