Deere & Company (NYSE:DE) Upgraded at Melius Research

Melius Research upgraded shares of Deere & Company (NYSE:DE) from a hold rating to a strong-buy rating in a report released on Friday morning,Zacks.com reports.

Several other analysts have also recently issued reports on the stock. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Raymond James raised their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. BMO Capital Markets restated a “market perform” rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Citigroup decreased their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Price Performance

DE stock opened at $519.62 on Friday. The company has a market capitalization of $140.73 billion, a P/E ratio of 23.03, a PEG ratio of 2.14 and a beta of 1.09. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The business has a 50 day simple moving average of $479.20 and a 200-day simple moving average of $466.58. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $8.53 EPS. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Institutional Investors Weigh In On Deere & Company

A number of large investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC raised its position in Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after buying an additional 21 shares during the last quarter. Tyler Stone Wealth Management boosted its holdings in Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 21 shares during the last quarter. Robertson Stephens Wealth Management LLC grew its position in Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares during the period. Sunbelt Securities Inc. raised its stake in Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock valued at $434,000 after buying an additional 22 shares during the last quarter. Finally, Hayek Kallen Investment Management lifted its holdings in shares of Deere & Company by 1.7% during the 1st quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company’s stock valued at $610,000 after buying an additional 22 shares during the period. 68.58% of the stock is currently owned by institutional investors.

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.