Deere & Company (NYSE:DE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Deere & Company (NYSE:DE) has received a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $427.66.

DE has been the topic of a number of recent research reports. Truist Financial dropped their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research note on Tuesday. TD Cowen increased their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. DA Davidson dropped their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Morgan Stanley increased their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Finally, Daiwa Capital Markets boosted their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Pinnacle Associates Ltd. boosted its stake in shares of Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after acquiring an additional 939 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in Deere & Company by 27.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after buying an additional 372 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after buying an additional 5,485 shares during the last quarter. Summit Asset Management LLC boosted its stake in 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 buying an additional 200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 worth $628,105,000 after buying an additional 31,074 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.1 %

Shares of NYSE DE opened at $364.95 on Friday. The business has a 50-day moving average price of $384.54 and a 200 day moving average price of $387.09. The stock has a market cap of $100.57 billion, a PE ratio of 10.96, a price-to-earnings-growth 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 has a 52-week low of $353.15 and a 52-week high of $450.00.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $13.29 billion. During the same period last year, the firm posted $9.65 earnings per share. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

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.