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

Shares of Deere & Company (NYSE:DE - Get Free Report) have been given an average rating of "Hold" by the twenty-one analysts that are currently covering the stock, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $515.19.

Several brokerages recently commented on DE. Barclays lifted their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Bank of America increased their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Robert W. Baird boosted their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Evercore ISI boosted their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th.

Hedge Funds Weigh In On Deere & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Activest Wealth Management increased its position in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter worth $29,000. Cornerstone Planning Group LLC increased its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 2.1%

Shares of NYSE:DE opened at $509.99 on Tuesday. The company's fifty day simple moving average is $507.45 and its 200 day simple moving average is $476.47. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The firm has a market cap of $138.12 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 3.31 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the firm posted $8.53 EPS. The company's quarterly revenue was down 17.9% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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