Morgan Stanley Cuts Deere & Company (NYSE:DE) Price Target to $425.00

Deere & Company (NYSE:DE) had its price target trimmed by Morgan Stanley from $450.00 to $425.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on DE. 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 note on Friday, May 17th. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a neutral rating in a research report on Friday, August 16th. HSBC downgraded Deere & Company from a buy rating to a hold rating in a report on Monday, August 19th. Raymond James assumed coverage on Deere & Company in a report on Friday, June 28th. They set an outperform rating and a $420.00 price objective on the stock. Finally, Truist Financial reaffirmed a buy rating and issued a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $414.11.

Deere & Company Trading Up 0.5 %

Shares of Deere & Company stock opened at $377.93 on Monday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $423.35. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The business has a 50 day moving average price of $367.82 and a 200 day moving average price of $379.83. The company has a market capitalization of $104.15 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter last year, the business posted $10.20 earnings per share. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.56%. Deere & Company’s dividend payout ratio is presently 17.70%.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DE. True Wealth Design LLC grew its holdings 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 in the last quarter. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Fairscale Capital LLC bought a new stake in Deere & Company in the second quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $29,000. Finally, Livelsberger Financial Advisory bought a new position in Deere & Company during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors 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.