Deere & Company (NYSE:DE) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Deere, with 16 buy ratings and eight holds among 24 firms. The average 12-month price target is $680.73, while recent targets range from $570 to $813.
• Deere’s latest quarterly results exceeded expectations, with earnings per share of $5.10 versus $4.69 expected and revenue of $12.61 billion versus $10.81 billion forecast. Revenue increased 6.2% year over year.
• The company declared a quarterly dividend of $1.62 per share, equal to $6.48 annually and a 0.9% yield. Institutional investors own approximately 68.6% of Deere’s outstanding shares.

Deere & Company (NYSE:DE - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-four ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $680.7250.

Several equities research analysts have recently commented on the company. Seaport Research Partners set a $570.00 price objective on Deere & Company in a report on Friday, August 14th. DA Davidson upped their price target on shares of Deere & Company from $685.00 to $760.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Evercore upgraded shares of Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price target for the company in a research note on Wednesday. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $570.00 to $585.00 and gave the stock a "neutral" rating in a research note on Friday, August 21st.

Deere & Company Stock Performance

DE opened at $692.68 on Friday. The business's 50-day simple moving average is $619.13 and its 200 day simple moving average is $596.29. Deere & Company has a 52-week low of $433.00 and a 52-week high of $705.88. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The firm has a market capitalization of $186.76 billion, a PE ratio of 38.48, a PEG ratio of 2.86 and a beta of 0.90.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The business's revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $4.75 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 18.12 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 0.9%. Deere & Company's dividend payout ratio (DPR) is presently 36.00%.

Institutional Trading of Deere & Company

Several institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System raised its stake in Deere & Company by 60,460.4% in the 2nd quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company's stock valued at $148,804,949,000 after acquiring an additional 234,198,659 shares during the period. BlackRock Inc. acquired a new stake in shares of Deere & Company in the second quarter valued at approximately $11,763,504,000. State Street Corp raised its stake in Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock valued at $4,898,717,000 after purchasing an additional 97,049 shares in the last quarter. Capital World Investors increased its stake in Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Deere & Company by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock valued at $3,581,574,000 after acquiring an additional 158,584 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

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.

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