Deere & Co. (NYSE:DE) shares fell 2.1% during mid-day trading on Friday . The stock traded as low as $79.84 and last traded at $80.48, with a volume of 2,338,448 shares traded. The stock had previously closed at $82.22.

Several brokerages recently issued reports on DE. Vetr raised Deere & Co. from a “sell” rating to a “hold” rating and set a $77.39 target price for the company in a research report on Tuesday, July 5th. Piper Jaffray Cos. raised their target price on Deere & Co. from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, May 23rd. Cowen and Company raised Deere & Co. from a “market perform” rating to an “outperform” rating and set a $50.50 target price for the company in a research report on Tuesday, May 24th. Robert W. Baird reaffirmed a “hold” rating on shares of Deere & Co. in a research report on Monday, May 16th. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Deere & Co. in a research report on Saturday, May 14th. Seven investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Deere & Co. has an average rating of “Hold” and an average target price of $79.67.

The company has a market capitalization of $25.18 billion and a price-to-earnings ratio of 16.08. The stock’s 50-day moving average price is $83.43 and its 200-day moving average price is $80.35.

Deere & Co. (NYSE:DE) last posted its quarterly earnings results on Friday, May 20th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.08. The business earned $7.88 billion during the quarter. During the same period in the previous year, the company earned $2.03 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. Analysts expect that Deere & Co. will post $3.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Thursday, June 30th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, June 28th.

Several institutional investors have recently modified their holdings of DE. Beacon Financial Group purchased a new position in shares of Deere & Co. during the fourth quarter valued at approximately $8,719,000. Mizuho Trust & Banking Co. Ltd. increased its position in shares of Deere & Co. by 2.5% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 476,889 shares of the company’s stock valued at $36,959,000 after buying an additional 11,441 shares during the period. Private Advisor Group LLC increased its position in shares of Deere & Co. by 2.1% in the fourth quarter. Private Advisor Group LLC now owns 28,157 shares of the company’s stock valued at $2,148,000 after buying an additional 574 shares during the period. GSA Capital Partners LLP increased its position in shares of Deere & Co. by 54.0% in the fourth quarter. GSA Capital Partners LLP now owns 17,158 shares of the company’s stock valued at $1,309,000 after buying an additional 6,018 shares during the period. Finally, BOKF NA increased its position in shares of Deere & Co. by 2.1% in the fourth quarter. BOKF NA now owns 33,272 shares of the company’s stock valued at $2,537,000 after buying an additional 686 shares during the period.

Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.

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