Deere & Company (NYSE:DE) Receives Consensus Rating of “Hold” from Brokerages

Deere & Company (NYSE:DE) has earned an average recommendation of “Hold” from the twenty-two analysts that are currently covering the stock, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $443.94.

DE has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Citigroup upped their price target on Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Finally, Oppenheimer boosted their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

Deere & Company Stock Performance

Shares of NYSE DE opened at $432.84 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a fifty day moving average price of $423.87 and a two-hundred day moving average price of $395.52. The firm has a market cap of $117.55 billion, a P/E ratio of 16.91, a PEG ratio of 1.91 and a beta of 0.96.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the business posted $8.26 earnings per share. Research analysts forecast that Deere & Company will post 19.52 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.50%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Institutional Trading of Deere & Company

A number of institutional investors have recently bought and sold shares of DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth about $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the third quarter worth approximately $32,000. Centennial Bank AR raised its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. Continuum Advisory LLC raised its position in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares in the last quarter. Finally, Briaud Financial Planning Inc lifted its stake in Deere & Company by 73.5% in the second quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds 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.