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

Deere & Company (NYSE:DE) has been given a consensus rating of “Hold” by the twenty-one ratings firms that are presently covering the stock, MarketBeat reports. Thirteen research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $457.22.

A number of research firms have weighed in on DE. JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research note on Monday. Evercore ISI raised their price objective on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. UBS Group boosted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Deere & Company

A number of large investors have recently added to or reduced their stakes in the stock. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new position in Deere & Company in the fourth quarter worth about $32,000. YANKCOM Partnership purchased a new position in Deere & Company in the fourth quarter worth about $34,000. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $34,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $35,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 1.6 %

Shares of Deere & Company stock opened at $458.43 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The company has a market cap of $124.85 billion, a P/E ratio of 20.32, a PEG ratio of 2.14 and a beta of 0.98. The company’s fifty day simple moving average is $458.13 and its two-hundred day simple moving average is $427.89.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio is currently 28.72%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.