Brokerages Set Deere & Company (NYSE:DE) Price Target at $431.14

Deere & Company (NYSE:DE) has been given a consensus rating of “Moderate Buy” by the twenty analysts that are covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $430.55.

DE has been the topic of several recent research reports. Morgan Stanley upped their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Daiwa Capital Markets upped their price target on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Stifel Nicolaus upped their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Finally, Raymond James initiated coverage on Deere & Company in a report on Friday. They issued an “outperform” rating and a $420.00 price objective on the stock.

Deere & Company Stock Down 0.8 %

Shares of DE opened at $373.63 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The stock has a market capitalization of $102.96 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.50 and a beta of 0.98. The stock has a 50 day moving average price of $385.32 and a 200 day moving average price of $387.29.

Deere & Company (NYSE:DE) last released its quarterly earnings data 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. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the previous year, the company posted $9.65 earnings per share. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. Equities research analysts forecast 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 of this dividend 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

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tompkins Financial Corp boosted its position in Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after buying an additional 25 shares in the last quarter. Essex Savings Bank boosted its position in Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after buying an additional 26 shares in the last quarter. Global Retirement Partners LLC boosted its position in Deere & Company by 0.7% in the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock valued at $1,548,000 after buying an additional 26 shares in the last quarter. Valley National Advisers Inc. boosted its position in Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after buying an additional 27 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of Deere & Company by 0.5% during the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds 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.