Robert W. Baird Lowers Deere & Company (NYSE:DE) Price Target to $488.00

Key Points

• Robert W. Baird has lowered its price target for Deere & Company from $520.00 to $488.00, maintaining a "neutral" rating with a potential upside of only 0.21% from the current price.
• Other analysts have varying opinions, with Evercore ISI increasing their target to $493.00, and eight analysts providing a "buy" rating on the stock, contrasting with one sell rating.
• Deere reported earnings of $4.75 per share, exceeding expectations, despite a 9.0% year-over-year decline in revenue, highlighting mixed financial performance amid analysts' scrutiny.

Deere & Company (NYSE:DE - Free Report) had its target price reduced by Robert W. Baird from $520.00 to $488.00 in a report issued on Friday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company's stock.

Other analysts have also recently issued reports about the stock. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Evercore ISI increased their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. DA Davidson reissued a "buy" rating and issued a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. Finally, Raymond James Financial upped their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of "Hold" and a consensus price target of $523.87.

Deere & Company Price Performance

Shares of NYSE DE traded up $7.39 during midday trading on Friday, reaching $498.52. The company's stock had a trading volume of 121,640 shares, compared to its average volume of 1,359,310. The business's 50 day moving average price is $510.56 and its two-hundred day moving average price is $490.14. The company has a market cap of $135.01 billion, a P/E ratio of 26.05, a P/E/G ratio of 3.10 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a fifty-two week low of $371.76 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business posted $6.29 EPS. Deere & Company's quarterly revenue was down 9.0% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, June 30th. Deere & Company's payout ratio is currently 33.87%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mid American Wealth Advisory Group Inc. bought a new position in Deere & Company in the second quarter valued at approximately $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company during the 2nd quarter worth about $27,000. Activest Wealth Management lifted its stake in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC acquired a new position in Deere & Company during the 1st quarter worth approximately $29,000. Finally, Cornerstone Planning Group LLC increased its holdings in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.