Deere & Company (NYSE:DE) Given Average Recommendation of "Moderate Buy" by Brokerages

Deere & Company (NYSE:DE - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eighteen ratings firms that are currently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $433.28.

Several analysts recently issued reports on DE shares. Wells Fargo & Company cut their price objective on Deere & Company from $445.00 to $425.00 and set an "overweight" rating for the company in a report on Friday, February 16th. Evercore ISI increased their price objective on Deere & Company from $381.00 to $387.00 and gave the stock an "in-line" rating in a report on Tuesday, February 20th. Melius lowered Deere & Company from a "buy" rating to a "hold" rating in a report on Monday, January 8th. Melius Research reiterated a "hold" rating on shares of Deere & Company in a report on Monday, January 8th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a "neutral" rating in a report on Friday.

Deere & Company Stock Down 3.8 %

Shares of Deere & Company stock traded down $15.57 during midday trading on Friday, hitting $397.27. The company's stock had a trading volume of 1,886,049 shares, compared to its average volume of 1,347,228. The firm has a market capitalization of $110.58 billion, a P/E ratio of 11.57, a PEG ratio of 1.49 and a beta of 1.04. The stock has a 50-day simple moving average of $384.71 and a 200-day simple moving average of $382.39. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analysts' expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company's revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $6.55 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Wednesday, March 27th. Deere & Company's payout ratio is 17.12%.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors have recently added to or reduced their stakes in DE. Tompkins Financial Corp boosted its holdings in shares of Deere & Company by 2.6% in the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company's stock worth $403,000 after acquiring an additional 25 shares in the last quarter. Essex Savings Bank raised its position in Deere & Company by 0.5% in the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company's stock worth $2,146,000 after purchasing an additional 26 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Deere & Company by 1.5% during the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company's stock valued at $751,000 after acquiring an additional 27 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company's stock valued at $2,063,000 after acquiring an additional 27 shares during the last quarter. Finally, Simplicity Solutions LLC raised its position in shares of Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company's stock valued at $2,063,000 after acquiring an additional 27 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.