Deere & Company (NYSE:DE - Free Report) had its price objective trimmed by Citigroup from $550.00 to $525.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company's stock.
A number of other analysts have also issued reports on DE. UBS Group decreased their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Bank of America boosted their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays increased their target price 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. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $515.19.
Read Our Latest Research Report on DE
Deere & Company Trading Up 1.2%
NYSE:DE traded up $6.02 on Friday, reaching $513.86. 1,107,613 shares of the stock traded hands, compared to its average volume of 1,397,995. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $139.47 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company's 50 day moving average is $476.02 and its 200-day moving average is $463.74. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the prior year, the firm earned $8.53 earnings per share. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently announced 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. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.26%. Deere & Company's payout ratio is currently 31.35%.
Institutional Investors Weigh In On Deere & Company
A number of hedge funds have recently added to or reduced their stakes in DE. Chicago Partners Investment Group LLC increased its holdings in shares of Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after acquiring an additional 21 shares in the last quarter. Tyler Stone Wealth Management increased its position in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after acquiring an additional 21 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in shares of Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock worth $426,000 after acquiring an additional 22 shares during the period. Sunbelt Securities Inc. boosted its stake in Deere & Company by 2.4% in the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after purchasing an additional 22 shares during the period. Finally, Hayek Kallen Investment Management raised its stake in shares of Deere & Company by 1.7% in the 1st quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company's stock valued at $610,000 after purchasing an additional 22 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Deere & Company Company Profile
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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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