Deere & Company (NYSE:DE) Now Covered by Analysts at Raymond James

Raymond James initiated coverage on shares of Deere & Company (NYSE:DE) in a research report released on Friday morning, MarketBeat.com reports. The firm issued an outperform rating and a $420.00 target price on the industrial products company’s stock.

Other equities analysts have also issued reports about the stock. Oppenheimer restated an outperform rating and issued a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. TD Cowen increased their price target on Deere & Company from $383.00 to $390.00 and gave the company a hold rating in a research note on Friday, May 17th. JPMorgan Chase & Co. reduced their price target on Deere & Company from $425.00 to $385.00 and set a neutral rating on the stock in a research report on Friday, May 17th. Morgan Stanley upped their price objective on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Finally, Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They set a buy rating and a $494.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $430.55.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $373.63 on Friday. 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 firm has a 50 day simple moving average of $385.32 and a 200 day simple moving average of $387.02. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. The firm has a market cap of $102.96 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.51 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.65 earnings per share. Sell-side analysts predict that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.57%. Deere & Company’s payout ratio is 17.70%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Deere & Company

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sherbrooke Park Advisers LLC acquired a new stake in shares of Deere & Company during the third quarter worth $232,000. Ancora Advisors LLC boosted its holdings in Deere & Company by 5.8% in the 3rd quarter. Ancora Advisors LLC now owns 925 shares of the industrial products company’s stock valued at $349,000 after purchasing an additional 51 shares during the period. Caxton Associates LP acquired a new position in shares of Deere & Company during the 3rd quarter worth approximately $222,000. Waverly Advisors LLC increased its holdings in shares of Deere & Company by 14.9% during the third quarter. Waverly Advisors LLC now owns 2,424 shares of the industrial products company’s stock worth $915,000 after purchasing an additional 315 shares during the period. Finally, Logan Capital Management Inc. raised its position in shares of Deere & Company by 2.6% in the third quarter. Logan Capital Management Inc. now owns 21,543 shares of the industrial products company’s stock valued at $8,130,000 after buying an additional 556 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.