Deere & Company (NYSE:DE) Given Average Rating of “Hold” by Brokerages

Shares of Deere & Company (NYSE:DE) have been given an average rating of “Hold” by the twenty-one brokerages that are currently covering the stock, MarketBeat.com reports. Thirteen research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $460.00.

DE has been the topic of a number of recent research reports. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Truist Financial reiterated a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. Finally, Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after buying an additional 1,095,736 shares during the period. Capital World Investors increased its position in Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after acquiring an additional 157,224 shares during the last quarter. FMR LLC increased its position in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after acquiring an additional 97,203 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $465.27 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a market cap of $126.28 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The business has a 50-day simple moving average of $477.28 and a two-hundred day simple moving average of $439.76. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. Deere & Company’s dividend payout ratio is currently 28.72%.

About Deere & Company

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.