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

Deere & Company (NYSE:DE) has been assigned an average recommendation of “Moderate Buy” from the twenty-three brokerages that are currently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $642.9750.

A number of research analysts recently issued reports on DE shares. Oppenheimer restated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Finally, Truist Financial raised their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $607.63 on Friday. The company’s fifty day simple moving average is $583.01 and its two-hundred day simple moving average is $574.70. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The firm has a market cap of $164.02 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.64 earnings per share. As a group, equities analysts expect that Deere & Company will post 18.27 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

Institutional Trading of Deere & Company

Several large investors have recently bought and sold shares of the company. First Community Trust NA grew its holdings in shares of Deere & Company by 1.6% during the 2nd quarter. First Community Trust NA now owns 14,295 shares of the industrial products company’s stock worth $9,068,000 after acquiring an additional 226 shares during the period. Walker Asset Management LLC bought a new position in shares of Deere & Company in the 2nd quarter worth approximately $215,000. Ballast Inc. lifted its stake in shares of Deere & Company by 15.5% in the 2nd quarter. Ballast Inc. now owns 4,311 shares of the industrial products company’s stock valued at $2,735,000 after purchasing an additional 579 shares during the period. Abound Wealth Management lifted its stake in shares of Deere & Company by 1,100.0% in the 2nd quarter. Abound Wealth Management now owns 480 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 440 shares during the period. Finally, Annex Advisory Services LLC boosted its position in shares of Deere & Company by 11,031.7% during the second quarter. Annex Advisory Services LLC now owns 58,219 shares of the industrial products company’s stock valued at $36,930,000 after purchasing an additional 57,696 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.