Deere & Company (NYSE:DE) Trading Down 0.2%

Shares of Deere & Company (NYSE:DE) traded down 0.2% on Wednesday . The company traded as low as $386.64 and last traded at $393.01. 1,865,373 shares changed hands during trading, an increase of 46% from the average session volume of 1,279,511 shares. The stock had previously closed at $393.80.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DE. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Melius Research reissued a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Citigroup dropped their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Finally, Stifel Nicolaus reduced their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Price Performance

The company has a 50 day simple moving average of $384.95 and a 200 day simple moving average of $382.56. The company has a market capitalization of $109.40 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.55 EPS. As a group, research analysts predict that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Institutional Investors Weigh In On Deere & Company

Several institutional investors and hedge funds have recently modified their holdings of the stock. Retirement Group LLC boosted its stake in shares of Deere & Company by 264.7% during the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after buying an additional 45 shares during the last quarter. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares in the last quarter. Briaud Financial Planning Inc bought a new position in Deere & Company during the 3rd quarter valued at $25,000. Rakuten Securities Inc. acquired a new position in Deere & Company during the 4th quarter worth $28,000. Finally, Naples Money Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.