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

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

Several equities analysts recently issued reports on the stock. 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 research note on Friday, May 16th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Robert W. Baird upped their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Oppenheimer upped their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research note on Friday, May 16th.

Deere & Company Price Performance

Shares of NYSE DE traded up $14.68 on Friday, hitting $524.27. The company's stock had a trading volume of 1,277,438 shares, compared to its average volume of 1,393,286. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a market capitalization of $141.99 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a 50 day moving average of $489.49 and a 200-day moving average of $468.95.

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 the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 earnings per share. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is currently 31.35%.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC increased its position 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 grew its holdings in Deere & Company by 1.7% during the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after purchasing an additional 21 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 22 shares in the last quarter. Hayek Kallen Investment Management grew its holdings in Deere & Company by 1.7% during 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 in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its holdings in Deere & Company by 20.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 128 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

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.