Deere & Company (NYSE:DE) Given Average Recommendation of “Hold” by Brokerages

Shares of Deere & Company (NYSE:DE) have been given an average recommendation of “Hold” by the twenty-one analysts that are presently covering the stock, MarketBeat reports. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $409.88.

A number of equities research analysts have weighed in on DE shares. Oppenheimer reduced their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Morgan Stanley lowered their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, DA Davidson decreased their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th.

Deere & Company Trading Up 2.0 %

NYSE DE opened at $394.68 on Wednesday. The firm’s fifty day moving average price is $371.71 and its 200 day moving average price is $381.63. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The company has a market capitalization of $108.76 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the company posted $10.20 earnings per share. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, sell-side analysts expect that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’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 completion of 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DE. Tompkins Financial Corp lifted its position in shares of 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 acquiring an additional 25 shares in the last quarter. Field & Main Bank lifted its holdings in Deere & Company by 0.7% in the 1st quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after purchasing an additional 27 shares in the last quarter. Range Financial Group LLC boosted its stake in shares of Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 27 shares during the last quarter. Cooper Financial Group grew its holdings in shares of Deere & Company by 2.4% during the first quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after buying an additional 27 shares in the last quarter. Finally, First Foundation Advisors raised its position in shares of Deere & Company by 2.3% in the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock valued at $513,000 after buying an additional 28 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.