Deere & Company (NYSE:DE) Trading 1% Higher

Deere & Company (NYSE:DE - Get Free Report)'s share price traded up 1% during trading on Tuesday . The stock traded as high as $405.62 and last traded at $403.64. 238,297 shares were traded during trading, a decline of 84% from the average session volume of 1,473,313 shares. The stock had previously closed at $399.61.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley began coverage on Deere & Company in a research report on Monday, January 8th. They set an "overweight" rating and a $430.00 price objective for the company. Melius downgraded Deere & Company from a "buy" rating to a "hold" rating in a research note on Monday, January 8th. Citigroup dropped their price target on shares of Deere & Company from $450.00 to $435.00 and set a "buy" rating for the company in a research report on Friday, February 16th. Wells Fargo & Company cut their price objective on Deere & Company from $445.00 to $425.00 and set an "overweight" rating on the stock in a research report on Friday, February 16th. Finally, Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They issued a "buy" rating and a $494.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $433.28.

Deere & Company Price Performance

The stock's 50 day simple moving average is $386.42 and its 200-day simple moving average is $383.39. The company has a market capitalization of $110.59 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the business earned $6.55 EPS. Deere & Company's revenue was down 8.0% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 27.4 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Hedge Funds Weigh In On Deere & Company

Several hedge funds have recently made changes to their positions in DE. Tompkins Financial Corp lifted its holdings in shares of Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company's stock worth $403,000 after purchasing an additional 25 shares during the period. Essex Savings Bank lifted its holdings in Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company's stock valued at $2,146,000 after acquiring an additional 26 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Deere & Company by 0.7% in the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company's stock valued at $1,548,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. boosted its holdings in Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company's stock worth $751,000 after buying an additional 27 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its position in Deere & Company by 0.5% during the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company's stock worth $2,063,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

About Deere & Company

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.