Deere & Company (NYSE:DE) Stock Price Down 0.6%

Deere & Company (NYSE:DE)’s stock price fell 0.6% during mid-day trading on Wednesday . The stock traded as low as $393.72 and last traded at $394.98. 189,078 shares changed hands during trading, a decline of 87% from the average session volume of 1,470,397 shares. The stock had previously closed at $397.21.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DE. Morgan Stanley began 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. Citigroup decreased their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. JPMorgan Chase & Co. upped their target price on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Wells Fargo & Company decreased their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Finally, Melius cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Trading Down 0.7 %

The business has a fifty day simple moving average of $386.42 and a 200 day simple moving average of $383.39. The stock has a market cap of $109.85 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.55 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

Institutional Trading of Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the business. Briaud Financial Planning Inc purchased a new stake in shares of Deere & Company during the third quarter worth about $25,000. True Wealth Design LLC grew its stake 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 purchasing an additional 59 shares in the last quarter. ZRC Wealth Management LLC acquired a new position in Deere & Company in the fourth quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in Deere & Company in the fourth quarter worth about $28,000. Finally, Naples Money Management LLC acquired a new position in Deere & Company in the fourth quarter worth about $29,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

About Deere & Company

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.