Deere & Company (NYSE:DE) Shares Up 0.3%

Deere & Company (NYSE:DE) shot up 0.3% during trading on Wednesday . The company traded as high as $408.65 and last traded at $405.19. 251,439 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,502,490 shares. The stock had previously closed at $404.00.

Analyst Ratings Changes

A number of research firms recently commented on DE. Evercore ISI boosted their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Melius Research reissued a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Truist Financial started coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Finally, Stifel Nicolaus cut their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $431.28.

Deere & Company Stock Performance

The business has a 50-day moving average of $382.31 and a two-hundred day moving average of $381.39. The company has a market cap of $113.02 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.52 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) 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. 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 the consensus estimate of $10.30 billion. During the same quarter last year, the company earned $6.55 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Briaud Financial Planning Inc purchased a new position in Deere & Company during the third quarter valued at approximately $25,000. Retirement Group LLC grew its holdings in Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 45 shares during the period. True Wealth Design LLC grew its holdings 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 valued at $26,000 after purchasing an additional 59 shares during the period. ZRC Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $28,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

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.