Deere & Company (NYSE:DE) Now Covered by Analysts at Raymond James

Raymond James began coverage on shares of Deere & Company (NYSE:DE) in a report published on Friday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $420.00 price objective on the industrial products company’s stock.

A number of other research analysts have also commented on the company. Morgan Stanley upped their price objective on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. TD Cowen raised their price target on shares of Deere & Company from $383.00 to $390.00 and gave the stock a hold rating in a research report on Friday, May 17th. Stifel Nicolaus boosted their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a buy rating in a report on Friday, May 17th. Oppenheimer reaffirmed an outperform rating and set a $456.00 target price on shares of Deere & Company in a report on Thursday, May 16th. Finally, DA Davidson cut their price target on Deere & Company from $483.00 to $465.00 and set a buy rating for the company in a research note on Monday, May 20th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $430.55.

Deere & Company Stock Performance

NYSE DE opened at $360.77 on Friday. The stock has a market cap of $99.42 billion, a PE ratio of 10.87, a P/E/G ratio of 1.50 and a beta of 0.93. 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 firm has a 50-day moving average of $385.32 and a 200-day moving average of $387.29. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the prior year, the firm earned $9.65 EPS. The business’s revenue was down 15.4% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is 17.70%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. raised its holdings in Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after purchasing an additional 939 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in Deere & Company by 27.4% during the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after acquiring an additional 372 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Deere & Company by 2.4% during the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after acquiring an additional 5,485 shares during the period. Summit Asset Management LLC raised its position in shares of Deere & Company by 24.1% in the 4th quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Deere & Company by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after purchasing an additional 31,074 shares during the period. 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.