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

Deere & Company (NYSE:DE) has been given a consensus recommendation 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 assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $460.00.

Several analysts recently commented on the stock. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note 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. lifted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Oppenheimer lifted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Evercore ISI lifted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th.

Deere & Company Stock Down 2.7 %

DE stock opened at $475.70 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a one year low of $340.20 and a one year high of $515.05. The company has a fifty day moving average of $463.53 and a 200-day moving average of $431.66. The stock has a market capitalization of $129.11 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS 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%. As a group, analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.36%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Deere & Company

Several large investors have recently modified their holdings of DE. Norges Bank acquired a new stake in shares of Deere & Company during the fourth quarter valued at about $1,244,094,000. Wellington Management Group LLP increased its holdings in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Deere & Company in the fourth quarter valued at about $541,437,000. Price T Rowe Associates Inc. MD increased its holdings in Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after buying an additional 1,095,736 shares during the last quarter. Finally, FMR LLC increased its holdings in Deere & Company by 22.9% in 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 buying an additional 1,039,395 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.