Shares of Deere & Company (NYSE:DE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-three research firms that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $642.9750.
A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Raymond James Financial lowered their target price on Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, May 22nd. DA Davidson reiterated a "buy" rating and set a $685.00 target price on shares of Deere & Company in a report on Friday, July 17th. Truist Financial increased their price target on Deere & Company from $759.00 to $812.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. raised their price target on Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th.
Get Our Latest Stock Report on DE
Deere & Company Stock Performance
Shares of DE stock opened at $617.46 on Wednesday. The company's fifty day simple moving average is $601.70 and its 200-day simple moving average is $586.24. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of $166.68 billion, a PE ratio of 34.98, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.
Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analysts' expectations of $11.55 billion. During the same quarter in the prior year, the company posted $6.64 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 18.26 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.62 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company's dividend payout ratio is currently 36.71%.
Hedge Funds Weigh In On Deere & Company
Several hedge funds and other institutional investors have recently made changes to their positions in DE. Ieq Capital LLC acquired a new position in Deere & Company during the second quarter worth $5,337,000. Sterling Financial Planning Inc. acquired a new stake in Deere & Company in the second quarter valued at $521,000. Callan Family Office LLC bought a new position in shares of Deere & Company in the 2nd quarter valued at about $4,252,000. Shelter Mutual Insurance Co bought a new position in shares of Deere & Company in the 2nd quarter valued at about $12,886,000. Finally, Keebeck Wealth Management acquired a new position in shares of Deere & Company during the 2nd quarter worth about $1,227,000. 68.58% of the stock is owned by institutional investors.
Deere & Company Company Profile
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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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