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

Key Points

• Deere & Company has received a consensus recommendation of "Hold" from 21 research firms, including 12 hold ratings, 8 buy ratings, and 1 strong buy rating.
• The company's shares opened at $500.94 and recently reported a quarterly earnings per share of $6.64, exceeding analysts' estimates by $0.92.
• Deere & Company announced a quarterly dividend of $1.62, with an annual yield of 1.3%, to be paid on August 8th.

Deere & Company (NYSE:DE - Get Free Report) has been given a consensus recommendation of "Hold" by the twenty-one research firms that are covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $515.50.

A number of equities research analysts recently commented on DE shares. Raymond James Financial lifted their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Morgan Stanley lifted their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Evercore ISI raised their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, UBS Group decreased their target price on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th.

Institutional Investors Weigh In On Deere & Company

Several institutional investors and hedge funds have recently modified their holdings of DE. Mid American Wealth Advisory Group Inc. purchased a new position in Deere & Company in the second quarter valued at $25,000. Activest Wealth Management raised its position in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in Deere & Company in the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the period. Finally, Orion Capital Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 4.5%

Shares of NYSE DE opened at $500.94 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The stock has a 50 day moving average price of $512.25 and a 200 day moving average price of $486.99. The firm has a market capitalization of $135.67 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 3.32 and a beta of 1.08. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78.

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

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is 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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