Deere & Company (NYSE:DE) Receives $515.19 Consensus PT from Analysts

Shares of Deere & Company (NYSE:DE) have been given a consensus recommendation of “Hold” by the twenty-one brokerages that are presently covering the company, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $515.19.

A number of equities research analysts recently weighed in on the stock. Raymond James boosted their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Robert W. Baird boosted their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Bank of America boosted their target price on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. DA Davidson reaffirmed a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a research note on Friday, May 16th. Finally, Evercore ISI upped their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th.

Deere & Company Stock Down 1.5%

Shares of DE opened at $509.04 on Friday. The firm has a market cap of $137.86 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company’s fifty day moving average is $487.24 and its two-hundred day moving average is $468.55. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

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

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

Institutional Trading of Deere & Company

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Deere & Company in the 4th quarter valued at about $1,244,094,000. GAMMA Investing LLC boosted its stake in shares of Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock valued at $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Deere & Company during the 4th quarter worth approximately $541,437,000. Nuveen LLC bought a new position in Deere & Company during the 1st quarter worth approximately $571,073,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after buying an additional 1,095,736 shares during the period. 68.58% of the stock is 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.