Deere & Company (NYSE:DE) Receives $457.22 Average PT from Brokerages

Shares of Deere & Company (NYSE:DE) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $460.00.

Several equities analysts have recently commented on the company. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Truist Financial reiterated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th.

Deere & Company Stock Down 2.7 %

Shares of Deere & Company stock opened at $475.70 on Wednesday. The firm has a market cap of $129.11 billion, a P/E ratio of 21.09, a P/E/G ratio of 2.14 and a beta of 1.01. The business has a 50-day moving average price of $463.53 and a 200 day moving average price of $431.66. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. 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 posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.36%. Deere & Company’s dividend payout ratio is currently 28.72%.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company in the 4th quarter valued at $34,000. Orion Capital Management LLC purchased a new stake in Deere & Company in the 4th quarter worth about $34,000. Finally, Synergy Asset Management LLC purchased a new stake in Deere & Company in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

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.