Deere & Company (NYSE:DE - Get Free Report) traded down 0.6% during trading on Wednesday . The company traded as low as $393.72 and last traded at $394.98. 189,078 shares traded hands during trading, a decline of 87% from the average session volume of 1,470,397 shares. The stock had previously closed at $397.21.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Melius downgraded shares of Deere & Company from a "buy" rating to a "hold" rating in a research note on Monday, January 8th. Morgan Stanley assumed coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an "overweight" rating and a $430.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $425.00 to $401.00 and set a "hold" rating on the stock in a research note on Friday, February 16th. Melius Research reiterated a "hold" rating on shares of Deere & Company in a research note on Monday, January 8th. Finally, Wells Fargo & Company dropped their target price on shares of Deere & Company from $445.00 to $425.00 and set an "overweight" rating on the stock in a report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $433.28.
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 company's 50-day moving average price is $386.62 and its two-hundred day moving average price is $383.47. The company has a market cap of $109.85 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter last year, the firm posted $6.55 EPS. The business's revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.
Deere & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders 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 annualized dividend and a dividend yield of 1.49%. Deere & Company's dividend payout ratio (DPR) is 17.12%.
Hedge Funds Weigh In On Deere & Company
Large investors have recently made changes to their positions in the business. Summit Global Investments acquired a new position in shares of Deere & Company in the third quarter worth about $201,000. Capital Investment Advisors LLC acquired a new position in shares of Deere & Company in the third quarter worth about $1,491,000. Avior Wealth Management LLC boosted its holdings in shares of Deere & Company by 2.9% in the third quarter. Avior Wealth Management LLC now owns 4,052 shares of the industrial products company's stock worth $1,529,000 after buying an additional 114 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Deere & Company by 10.9% in the third quarter. Newbridge Financial Services Group Inc. now owns 335 shares of the industrial products company's stock worth $127,000 after buying an additional 33 shares during the period. Finally, Royal Fund Management LLC boosted its holdings in shares of Deere & Company by 16.8% in the third quarter. Royal Fund Management LLC now owns 3,262 shares of the industrial products company's stock worth $1,231,000 after buying an additional 470 shares during the period. Institutional investors own 68.58% of the company's stock.
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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