Deere & Company (NYSE:DE) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Deere & Company (NYSE:DE) have earned a consensus rating of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $431.61.

A number of research firms have recently weighed in on DE. Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Truist Financial raised their target price on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America upped their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley dropped their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th.

Deere & Company Stock Up 2.1 %

Shares of NYSE:DE opened at $446.65 on Monday. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. The stock’s 50-day moving average price is $406.99 and its 200-day moving average price is $386.22. The stock has a market capitalization of $122.20 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $447.50.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.90 by $0.65. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.26 EPS. On average, equities analysts anticipate that Deere & Company will post 21.41 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. Deere & Company’s dividend payout ratio is currently 22.97%.

Hedge Funds Weigh In On Deere & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth about $26,000. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in Deere & Company during the third quarter worth approximately $32,000. Olistico Wealth LLC acquired a new position in Deere & Company in the 2nd quarter valued at $37,000. Finally, Centennial Bank AR raised its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the period. 68.58% of the stock is owned by 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.