Deere & Company (NYSE:DE) Shares Down 1.3%

Deere & Company (NYSE:DE - Get Free Report) dropped 1.3% during mid-day trading on Wednesday . The stock traded as low as $383.77 and last traded at $386.31. Approximately 460,617 shares traded hands during trading, a decline of 68% from the average daily volume of 1,447,271 shares. The stock had previously closed at $391.41.

Wall Street Analyst Weigh In

DE has been the topic of several research analyst reports. Melius Research reiterated a "hold" rating on shares of Deere & Company in a research report on Monday, January 8th. Evercore ISI boosted their price target on shares of Deere & Company from $381.00 to $387.00 and gave the company an "in-line" rating in a research report on Tuesday, February 20th. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a "buy" rating and a $494.00 price target on the stock. Morgan Stanley initiated coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an "overweight" rating and a $430.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective 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 equities 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, Deere & Company presently has a consensus rating of "Hold" and a consensus target price of $433.28.

Deere & Company Trading Down 1.0 %

The firm's 50 day moving average price is $389.94 and its 200-day moving average price is $383.76. The stock has a market cap of $107.86 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.51 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 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. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.55 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed 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 is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.52%. Deere & Company's dividend payout ratio (DPR) is 17.12%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DE. True Wealth Design LLC raised its position in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company's stock worth $26,000 after acquiring an additional 59 shares during the period. Briaud Financial Planning Inc bought a new position in Deere & Company in the third quarter worth approximately $25,000. Rakuten Securities Inc. bought a new position in Deere & Company in the fourth quarter worth approximately $28,000. Naples Money Management LLC bought a new position in Deere & Company in the fourth quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new position in Deere & Company in the fourth quarter worth approximately $29,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Company Profile

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.