Shares of Deere & Company (NYSE:DE - Get Free Report) dropped 1.4% during trading on Friday . The company traded as low as $404.72 and last traded at $407.11. Approximately 318,629 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,475,810 shares. The stock had previously closed at $412.84.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Melius Research reissued a "hold" rating on shares of Deere & Company in a research note on Monday, January 8th. Evercore ISI upped their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an "in-line" rating in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $425.00 to $401.00 and set a "hold" rating on the stock in a research note on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a research report on Thursday, March 14th. They set a "buy" rating and a $494.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Deere & Company from $415.00 to $425.00 and gave the company a "neutral" rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average target price of $433.28.
Get Our Latest Report on DE
Deere & Company Price Performance
The company has a 50 day moving average price of $384.62 and a 200-day moving average price of $382.29. The company has a market cap of $110.58 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.55 and a beta of 1.04. 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 (NYSE:DE - Get Free Report) last posted its quarterly earnings data 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 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 analyst estimates of $10.30 billion. During the same period in the previous year, the firm earned $6.55 earnings per share. The firm's quarterly revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 27.41 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. Deere & Company's payout ratio is presently 17.12%.
Hedge Funds Weigh In On Deere & Company
A number of institutional investors have recently modified their holdings of DE. Moneta Group Investment Advisors LLC raised its stake in shares of Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company's stock worth $1,380,557,000 after purchasing an additional 3,216,801 shares during the last quarter. Norges Bank bought a new stake in Deere & Company in the 4th quarter worth about $1,248,036,000. Viking Global Investors LP purchased a new stake in Deere & Company in the 4th quarter valued at about $562,442,000. International Assets Investment Management LLC lifted its position in shares of Deere & Company by 46,241.1% during the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company's stock worth $336,142,000 after buying an additional 838,813 shares in the last quarter. Finally, Parnassus Investments LLC boosted its stake in shares of Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company's stock worth $1,541,967,000 after buying an additional 705,771 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.
About Deere & Company
(
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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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