Deere & Company (NYSE:DE - Get Free Report) shares fell 0.9% on Thursday . The company traded as low as $406.92 and last traded at $408.09. 616,099 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 1,479,634 shares. The stock had previously closed at $411.97.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on DE. Citigroup cut their price objective on shares of Deere & Company from $450.00 to $435.00 and set a "buy" rating on the stock in a report on Friday, February 16th. Morgan Stanley initiated coverage on shares of Deere & Company in a report on Monday, January 8th. They set an "overweight" rating and a $430.00 price target on the stock. Stifel Nicolaus cut their price target on shares of Deere & Company from $435.00 to $425.00 and set a "buy" rating on the stock in a report on Friday, February 16th. Evercore ISI increased their price target on shares of Deere & Company from $381.00 to $387.00 and gave the company an "in-line" rating in a report on Tuesday, February 20th. Finally, Melius Research reiterated a "hold" rating on shares of Deere & Company in a report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has an average rating of "Hold" and an average price target of $431.28.
Check Out Our Latest Analysis on DE
Deere & Company Stock Performance
The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The business's 50 day moving average is $384.24 and its 200 day moving average is $382.08. The stock has a market capitalization of $114.92 billion, a PE ratio of 11.88, a PEG ratio of 1.54 and a beta of 1.04.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts' consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to analysts' expectations of $10.30 billion. During the same period in the previous year, the company earned $6.55 EPS. The firm's revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts predict that Deere & Company will post 27.41 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The company also recently declared 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. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.42%. Deere & Company's dividend payout ratio is presently 17.12%.
Institutional Investors Weigh In On Deere & Company
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in Deere & Company by 1.3% during the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company's stock valued at $1,920,548,000 after buying an additional 65,006 shares in the last quarter. FMR LLC lifted its holdings in Deere & Company by 6.6% during the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company's stock valued at $1,650,767,000 after buying an additional 269,571 shares in the last quarter. Parnassus Investments LLC lifted its holdings in Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company's stock valued at $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Deere & Company by 104,373.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company's stock valued at $1,380,557,000 after purchasing an additional 3,216,801 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Deere & Company in the 4th quarter valued at about $1,248,036,000. Institutional investors own 68.58% of the company's stock.
Deere & Company Company Profile
(
Get Free Report)
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.
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