Deere & Company (NYSE:DE) Now Covered by Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Deere & Company (NYSE:DE) in a report released on Friday, Marketbeat reports. The brokerage issued a market perform rating and a $400.00 price target on the industrial products company’s stock.

A number of other research firms have also issued reports on DE. Morgan Stanley boosted their target price on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. DA Davidson reduced their price target on shares of Deere & Company from $483.00 to $465.00 and set a buy rating for the company in a research report on Monday, May 20th. Stifel Nicolaus upped their target price on Deere & Company from $425.00 to $450.00 and gave the company a buy rating in a report on Friday, May 17th. Citigroup initiated coverage on Deere & Company in a research note on Wednesday, June 26th. They issued a neutral rating and a $395.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Deere & Company from $385.00 to $375.00 and set a neutral rating on the stock in a report on Thursday, July 11th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company currently has an average rating of Hold and an average target price of $424.78.

Deere & Company Stock Up 0.2 %

Shares of NYSE:DE traded up $0.78 during trading on Friday, hitting $346.81. The company’s stock had a trading volume of 392,299 shares, compared to its average volume of 1,523,936. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $438.39. The stock’s 50-day moving average price is $368.46 and its two-hundred day moving average price is $381.60. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The company has a market capitalization of $95.57 billion, a PE ratio of 10.42, a PEG ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the prior year, the firm earned $9.65 EPS. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. As a group, sell-side analysts expect that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insider Buying and Selling at Deere & Company

In other Deere & Company 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 sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors have recently added to or reduced their stakes in DE. True Wealth Design LLC grew its position in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. Pineridge Advisors LLC grew its holdings in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Deere & Company in the 4th quarter valued at approximately $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Deere & Company in the fourth quarter worth $29,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.