Brokerages Set Deere & Company (NYSE:DE) PT at $524.20

Shares of Deere & Company (NYSE:DEGet Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $607.20.

A number of equities research analysts recently issued reports on DE shares. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Evercore restated a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. JPMorgan Chase & Co. reduced their target price on Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. Morgan Stanley restated an “overweight” rating and set a $560.00 price target on shares of Deere & Company in a research report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th.

Check Out Our Latest Report on Deere & Company

Deere & Company Price Performance

Deere & Company stock opened at $662.74 on Wednesday. The business has a 50 day simple moving average of $522.56 and a 200 day simple moving average of $491.27. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 2.01. The company has a market capitalization of $179.65 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. Deere & Company has a one year low of $404.42 and a one year high of $674.19.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. The firm had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st were paid a $1.62 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Insider Activity

In related news, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the sale, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 64,578 shares of company stock worth $32,471,682. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of Deere & Company

A number of institutional investors have recently bought and sold shares of the business. Catalyst Investment Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $455,000. Cambient Family Office LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $7,427,000. White Knight Strategic Wealth Advisors LLC acquired a new stake in Deere & Company in the fourth quarter worth $356,000. Mcguire Capital Advisors Inc. bought a new position in shares of Deere & Company during the fourth quarter worth $52,000. Finally, Compound Planning Inc. grew its holdings in shares of Deere & Company by 7.1% in the 4th quarter. Compound Planning Inc. now owns 4,017 shares of the industrial products company’s stock valued at $1,870,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Key Headlines Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

Deere & Company Company Profile

(Get Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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