Deere & Company (NYSE:DE) Shares Up 1.1%

Shares of Deere & Company (NYSE:DE) traded up 1.1% on Thursday . The stock traded as high as $401.62 and last traded at $401.05. 215,160 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,482,925 shares. The stock had previously closed at $396.88.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DE shares. JPMorgan Chase & Co. increased their price target on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Evercore ISI raised their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, Morgan Stanley started coverage on Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Trading Down 0.1 %

The stock has a market capitalization of $111.45 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.50 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. The business has a 50 day simple moving average of $385.86 and a 200-day simple moving average of $382.97.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $6.55 EPS. On average, equities analysts predict that Deere & Company will post 27.4 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Hedge Funds Weigh In On Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the company. RB Capital Management LLC lifted its position in Deere & Company by 5.2% during the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after acquiring an additional 81 shares in the last quarter. Bornite Capital Management LP acquired a new position in Deere & Company during the 1st quarter worth approximately $14,541,000. Retirement Income Solutions Inc acquired a new position in Deere & Company during the 1st quarter worth approximately $229,000. Sequoia Financial Advisors LLC lifted its position in Deere & Company by 27.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after acquiring an additional 521 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in Deere & Company by 32.4% during the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after acquiring an additional 27,985 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

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.