DA Davidson Cuts Deere & Company (NYSE:DE) Price Target to $465.00

Deere & Company (NYSE:DEFree Report) had its price objective reduced by DA Davidson from $483.00 to $465.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for Deere & Company’s Q3 2024 earnings at $5.32 EPS, FY2024 earnings at $25.33 EPS and FY2025 earnings at $27.91 EPS.

Several other research firms have also issued reports on DE. Truist Financial began coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a buy rating and a $494.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Deere & Company from $425.00 to $450.00 and gave the stock a buy rating in a research report on Friday, May 17th. Daiwa Capital Markets increased their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an overweight rating in a research report on Wednesday, May 15th. Citigroup reduced their price target on shares of Deere & Company from $450.00 to $435.00 and set a buy rating on the stock in a research report on Friday, February 16th. Finally, Wells Fargo & Company reduced their price target on shares of Deere & Company from $445.00 to $425.00 and set an overweight rating on the stock in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $432.92.

Check Out Our Latest Analysis on DE

Deere & Company Stock Performance

Shares of DE stock opened at $385.87 on Monday. The company has a market capitalization of $107.41 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.51 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The company has a 50-day simple moving average of $399.95 and a 200 day simple moving average of $386.47. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the prior year, the business posted $9.65 EPS. The business’s revenue was down 15.4% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 26.61 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Wednesday, March 27th. Deere & Company’s payout ratio is currently 17.70%.

Hedge Funds Weigh In On Deere & Company

Several large investors have recently modified their holdings of DE. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Deere & Company by 21.6% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,781 shares of the industrial products company’s stock worth $1,427,000 after buying an additional 671 shares during the last quarter. Machina Capital S.A.S. grew its holdings in Deere & Company by 106.1% in the third quarter. Machina Capital S.A.S. now owns 1,076 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 554 shares during the period. SageView Advisory Group LLC grew its holdings in Deere & Company by 2.4% in the third quarter. SageView Advisory Group LLC now owns 1,201 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 28 shares during the period. SteelPeak Wealth LLC grew its holdings in Deere & Company by 4.3% in the third quarter. SteelPeak Wealth LLC now owns 4,802 shares of the industrial products company’s stock worth $1,819,000 after purchasing an additional 200 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Deere & Company by 0.4% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 10,035 shares of the industrial products company’s stock worth $3,749,000 after purchasing an additional 42 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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