Deere & Company (NYSE:DE) Receives $517.27 Consensus Target Price from Brokerages

Key Points

• Deere & Company has received an average rating of "Moderate Buy" from analysts, with a target price of approximately $517.27, reflecting mixed sentiments with nine hold ratings, eight buy ratings, and one strong buy.
• The company reported quarterly earnings of $4.75 EPS, outperforming estimates of $4.62, but experienced a 9% revenue decline year-over-year.
• Deere & Company announced a quarterly dividend of $1.62 per share, with a payment date on November 10th, representing a yield of 1.4% and a payout ratio of 33.87%.

Deere & Company (NYSE:DE - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eighteen analysts that are covering the company, MarketBeat Ratings reports. Nine equities 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 objective among analysts that have updated their coverage on the stock in the last year is $517.2667.

A number of equities analysts have issued reports on the stock. DA Davidson cut their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research note on Tuesday, September 2nd. Truist Financial dropped their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Finally, Citigroup dropped their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently made changes to their positions in DE. Brighton Jones LLC lifted its stake in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $6,475,000. Vise Technologies Inc. grew its holdings in Deere & Company by 31.2% during the 4th quarter. Vise Technologies Inc. now owns 3,340 shares of the industrial products company's stock worth $1,415,000 after acquiring an additional 795 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $114,000. Finally, GTS Securities LLC lifted its position in shares of Deere & Company by 982.1% during the 4th quarter. GTS Securities LLC now owns 1,579 shares of the industrial products company's stock valued at $669,000 after acquiring an additional 1,758 shares during the period. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE:DE traded down $6.13 during trading on Friday, hitting $469.99. 2,754,841 shares of the stock were exchanged, compared to its average volume of 1,406,645. The company has a fifty day moving average price of $493.23 and a two-hundred day moving average price of $490.32. The company has a market cap of $127.05 billion, a PE ratio of 24.57, a P/E/G ratio of 3.02 and a beta of 1.00. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

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 for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company's revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $6.29 EPS. On average, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio is 33.87%.

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.