Deere & Company (NYSE:DE) Price Target Cut to $448.00 by Analysts at Oppenheimer

Deere & Company (NYSE:DE) had its target price trimmed by Oppenheimer from $465.00 to $448.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Several other research firms have also recently weighed in on DE. Daiwa Capital Markets upped their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an overweight rating in a research report on Wednesday, May 15th. Stifel Nicolaus upped their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the stock a buy rating in a research report on Friday, May 17th. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $385.00 to $375.00 and set a neutral rating on the stock in a research report on Thursday, July 11th. TD Cowen increased their price target on shares of Deere & Company from $383.00 to $390.00 and gave the company a hold rating in a research report on Friday, May 17th. Finally, Morgan Stanley increased their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has an average rating of Hold and an average price target of $426.71.

Deere & Company Trading Up 3.3 %

Shares of DE opened at $381.56 on Monday. The business’s 50-day moving average price is $372.80 and its 200-day moving average price is $383.84. Deere & Company has a twelve month low of $345.93 and a twelve month high of $446.71. The stock has a market cap of $105.15 billion, a PE ratio of 11.49, a P/E/G ratio of 1.50 and a beta of 0.93. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $9.65 earnings per share. On average, equities analysts forecast that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors have recently added to or reduced their stakes in the company. Tompkins Financial Corp increased its holdings in shares of Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 25 shares in the last quarter. Essex Savings Bank increased its holdings in shares of Deere & Company by 0.5% during the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after acquiring an additional 26 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Deere & Company by 0.7% during the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock valued at $1,548,000 after acquiring an additional 26 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after acquiring an additional 27 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of Deere & Company by 0.5% during the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.