Deere & Company (NYSE:DE) Stock Price Down 0.6%

Shares of Deere & Company (NYSE:DE - Get Free Report) were down 0.6% during trading on Friday . The company traded as low as $391.56 and last traded at $391.59. Approximately 155,682 shares changed hands during trading, a decline of 89% from the average daily volume of 1,462,332 shares. The stock had previously closed at $394.06.

Analysts Set New Price Targets

A number of analysts have recently commented on DE shares. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $415.00 to $425.00 and gave the stock a "neutral" rating in a research note on Friday, April 12th. Morgan Stanley started 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 for the company. Citigroup dropped their price objective on shares of Deere & Company from $450.00 to $435.00 and set a "buy" rating for the company in a research note on Friday, February 16th. Melius Research reaffirmed a "hold" rating on shares of Deere & Company in a research note on Monday, January 8th. Finally, Wells Fargo & Company dropped their price objective on shares of Deere & Company from $445.00 to $425.00 and set an "overweight" rating for the company in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $433.28.

Deere & Company Price Performance

The stock's fifty day moving average price is $387.20 and its two-hundred day moving average price is $383.54. The firm has a market capitalization of $109.49 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating 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 business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the business earned $6.55 EPS. The company's revenue was down 8.0% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 27.37 EPS for the current 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 $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company's dividend payout ratio (DPR) is 17.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Pinnacle Associates Ltd. grew its position in Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company's stock worth $2,141,000 after purchasing an additional 939 shares during the last quarter. Penserra Capital Management LLC grew its position in Deere & Company by 2.4% during the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company's stock worth $89,322,000 after purchasing an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board grew its position in Deere & Company by 6.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company's stock worth $5,284,000 after purchasing an additional 900 shares during the last quarter. Centric Wealth Management purchased a new position in Deere & Company during the 3rd quarter worth $2,640,000. Finally, Graham Capital Management L.P. grew its position in Deere & Company by 483.3% during the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company's stock worth $6,604,000 after purchasing an additional 14,500 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.