Deere & Company (DE) - What Are Brokerages Saying About This Stock?

Key Points

• Analyst sentiment is moderately bullish: Twenty-five analysts give Deere a consensus “Moderate Buy” rating, with 17 buys and 8 holds. The average 12-month price target is $688.10, above the reported share price of $645.61.
• Recent results exceeded expectations: Deere reported quarterly earnings of $5.10 per share versus the $4.69 consensus estimate, while revenue reached $12.61 billion, up 6.2% year over year and ahead of estimates.
• Institutional ownership remains substantial: Hedge funds and other institutions own 68.58% of the company. Deere also announced a quarterly dividend of $1.62 per share, equivalent to a 1.0% annualized yield.

Shares of Deere & Company (NYSE:DE - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-five analysts that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $688.10.

A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, September 21st. Truist Financial dropped their price target on Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a research note on Monday, August 24th. Robert W. Baird raised Deere & Company from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $640.00 to $800.00 in a report on Monday, August 31st. Nomura raised Deere & Company to a "buy" rating in a report on Monday, August 31st. Finally, Barclays raised their price objective on Deere & Company from $640.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday, August 24th.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Deere & Company in the second quarter worth $27,000. Kilter Group LLC purchased a new position in shares of Deere & Company during the second quarter worth $29,000. Solstein Capital LLC purchased a new position in shares of Deere & Company during the second quarter worth $30,000. Orion Capital Management LLC acquired a new position in Deere & Company during the second quarter valued at $32,000. Finally, Downshift Financial LLC lifted its position in Deere & Company by 218.8% during the third quarter. Downshift Financial LLC now owns 51 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Down 0.1%

NYSE DE opened at $645.61 on Monday. The company has a fifty day simple moving average of $660.40 and a two-hundred day simple moving average of $614.51. The stock has a market cap of $174.07 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.36 and a beta of 0.86. Deere & Company has a 12-month low of $454.50 and a 12-month high of $721.22. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the previous year, the firm posted $4.75 earnings per share. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company's dividend payout ratio is currently 36.00%.

About Deere & Company

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.

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