Deere & Company (NYSE:DE) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Deere & Company has received a consensus recommendation of "Moderate Buy" from 21 brokerages, with ten analysts rating it as a hold and one as a strong buy.
• The average 1-year target price for Deere's stock is approximately $511.76, reflecting recent adjustments from various equity analysts.
• The company reported a quarterly earnings per share (EPS) of $4.75, exceeding expectations, although its revenue declined by 9.0% year-over-year, totaling $10.36 billion for the quarter.

Shares of Deere & Company (NYSE:DE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-one brokerages that are presently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $511.7647.

Several equities analysts have recently issued reports on the company. Oppenheimer lowered their price target on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research report on Thursday, September 18th. Jefferies Financial Group lowered their price target on Deere & Company from $510.00 to $440.00 and set a "hold" rating on the stock in a research report on Wednesday, October 8th. Daiwa Capital Markets lowered their price target on Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, September 25th. Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. Finally, Truist Financial raised their price objective on Deere & Company from $602.00 to $609.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th.

Deere & Company Stock Up 0.1%

DE opened at $448.62 on Thursday. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a market cap of $121.28 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.88 and a beta of 1.02. The stock's 50 day moving average price is $475.28 and its 200 day moving average price is $487.71.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the firm earned $6.29 EPS. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. As a group, research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Institutional Trading of Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the business. OLD National Bancorp IN boosted its position in shares of Deere & Company by 2.6% in the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company's stock worth $12,204,000 after buying an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after purchasing an additional 798 shares during the last quarter. Providence Capital Advisors LLC boosted its position in Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after purchasing an additional 303 shares during the last quarter. Bragg Financial Advisors Inc boosted its position in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after purchasing an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new stake in Deere & Company during the first quarter valued at $13,588,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Company Profile

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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