Deere & Company (NYSE:DE - Get Rating) - Stock analysts at Oppenheimer boosted their Q3 2022 earnings per share estimates for Deere & Company in a research report issued to clients and investors on Monday, April 25th. Oppenheimer analyst K. Owen now anticipates that the industrial products company will earn $6.82 per share for the quarter, up from their previous estimate of $6.61. Oppenheimer has a "Outperform" rating and a $432.00 price target on the stock. Oppenheimer also issued estimates for Deere & Company's FY2023 earnings at $26.23 EPS.
A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. upgraded Deere & Company from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $355.00 to $440.00 in a research note on Monday, March 28th. Deutsche Bank Aktiengesellschaft raised their target price on Deere & Company from $400.00 to $417.00 and gave the stock a "hold" rating in a research note on Tuesday, February 22nd. Robert W. Baird lifted their price objective on Deere & Company from $425.00 to $475.00 in a research note on Friday, January 7th. Bank of America lowered Deere & Company from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $475.00 to $450.00 in a research note on Monday. Finally, DA Davidson lifted their price objective on Deere & Company from $455.00 to $480.00 in a research note on Friday, April 1st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $440.53.
Shares of DE stock opened at $385.53 on Tuesday. The firm has a market capitalization of $118.27 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 1.84, a current ratio of 2.25 and a quick ratio of 1.94. The business has a fifty day moving average of $400.13 and a 200 day moving average of $373.47. Deere & Company has a 1 year low of $320.50 and a 1 year high of $446.76. Deere & Company (NYSE:DE - Get Rating) last issued its quarterly earnings data on Friday, February 18th. The industrial products company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.28 by $0.64. Deere & Company had a return on equity of 33.65% and a net margin of 12.69%. The firm had revenue of $8.53 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same quarter in the prior year, the business posted $3.87 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 9th. Investors of record on Thursday, March 31st will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, March 30th. Deere & Company's payout ratio is 23.28%.
In other Deere & Company news, insider Rajesh Kalathur sold 32,391 shares of the firm's stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $400.00, for a total value of $12,956,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Pentz Markwart Von sold 18,364 shares of the firm's stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $393.00, for a total transaction of $7,217,052.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in shares of Deere & Company by 5.7% during the 2nd quarter. Morgan Stanley now owns 2,479,850 shares of the industrial products company's stock valued at $874,668,000 after buying an additional 133,091 shares during the period. Segall Bryant & Hamill LLC raised its position in shares of Deere & Company by 87.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,403 shares of the industrial products company's stock valued at $4,159,000 after buying an additional 5,771 shares during the period. Brookstone Capital Management raised its position in shares of Deere & Company by 11.9% during the 3rd quarter. Brookstone Capital Management now owns 7,425 shares of the industrial products company's stock valued at $2,443,000 after buying an additional 792 shares during the period. Wade G W & Inc. raised its position in shares of Deere & Company by 7.7% during the 3rd quarter. Wade G W & Inc. now owns 3,160 shares of the industrial products company's stock valued at $1,059,000 after buying an additional 227 shares during the period. Finally, Montgomery Investment Management Inc. raised its position in shares of Deere & Company by 1.5% during the 3rd quarter. Montgomery Investment Management Inc. now owns 34,260 shares of the industrial products company's stock valued at $11,480,000 after buying an additional 500 shares during the period. 65.28% of the stock is currently owned by institutional investors and hedge funds.
Deere & Company Company Profile (Get Rating)
Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Deere & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.
While Deere & Company currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here