Deere & Company (NYSE:DE) Shares Down 0%

by · The Markets Daily

Deere & Company (NYSE:DE – Get Free Report)’s stock price fell 0% during mid-day trading on Wednesday . The company traded as low as $404.40 and last traded at $411.42. 250,550 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,475,756 shares. The stock had previously closed at $411.48.

Analysts Set New Price Targets

DE has been the topic of several recent research reports. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Citigroup lowered their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Evercore ISI boosted their price objective on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, Wells Fargo & Company decreased their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $431.28.

Check Out Our Latest Stock Analysis on Deere & Company

Deere & Company Price Performance

The firm has a market capitalization of $114.57 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.54 and a beta of 1.04. The stock’s 50 day simple moving average is $383.87 and its 200 day simple moving average is $381.87. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.55 earnings per share. As a group, analysts expect that Deere & Company will post 27.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. Deere & Company’s payout ratio is currently 17.12%.

Institutional Investors Weigh In On Deere & Company

Several hedge funds have recently modified their holdings of the business. Pinnacle Associates Ltd. raised its stake in Deere & Company by 21.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after buying an additional 939 shares in the last quarter. Osaic Holdings Inc. increased its stake in Deere & Company by 5.6% during the 2nd quarter. Osaic Holdings Inc. now owns 135,091 shares of the industrial products company’s stock valued at $54,775,000 after purchasing an additional 7,182 shares in the last quarter. Penserra Capital Management LLC raised its stake in Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after acquiring an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after purchasing an additional 900 shares in the last quarter. Finally, Greenline Partners LLC purchased a new stake in Deere & Company during the 2nd quarter worth approximately $265,000. Hedge funds and other 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.

Featured Stories