Deere & Company (NYSE:DE) Stock Price Down 1.3%

Shares of Deere & Company (NYSE:DE) were down 1.3% during mid-day trading on Wednesday . The stock traded as low as $383.77 and last traded at $386.31. Approximately 460,617 shares were traded during trading, a decline of 68% from the average daily volume of 1,447,271 shares. The stock had previously closed at $391.41.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DE shares. Stifel Nicolaus lowered their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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 reissued a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Wells Fargo & Company cut their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Price Performance

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The firm has a market capitalization of $110.95 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.46 and a beta of 1.04. The stock’s 50 day simple moving average is $390.73 and its 200 day simple moving average is $383.84.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.55 EPS. As a group, analysts expect that Deere & Company will post 27.37 earnings per share 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. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. Deere & Company’s payout ratio is presently 17.12%.

Institutional Investors Weigh In On Deere & Company

Several hedge funds have recently modified their holdings of DE. Tompkins Financial Corp lifted its position in Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 25 shares during the last quarter. Essex Savings Bank lifted its position in Deere & Company by 0.5% during the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after acquiring an additional 26 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Deere & Company by 0.7% in the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after buying an additional 26 shares during the last quarter. Valley National Advisers Inc. raised its holdings in shares of Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after buying an additional 27 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.