Deere & Company (NYSE:DE) Stock Price Down 0.6%

Deere & Company (NYSE:DE)’s stock price dropped 0.6% on Wednesday . The stock traded as low as $393.72 and last traded at $394.98. Approximately 189,078 shares changed hands during trading, a decline of 87% from the average daily volume of 1,470,397 shares. The stock had previously closed at $397.21.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Wells Fargo & Company cut their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Finally, Evercore ISI lifted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Stock Down 0.0 %

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company has a market capitalization of $109.67 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The firm’s 50-day simple moving average is $387.20 and its 200 day simple moving average is $383.54.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the business earned $6.55 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities research analysts forecast that Deere & Company will post 27.37 earnings per share for the current 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 paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is currently 17.12%.

Institutional Trading of Deere & Company

Institutional investors have recently bought and sold shares of the company. Briaud Financial Planning Inc acquired a new position in shares of Deere & Company during the 3rd quarter worth $25,000. True Wealth Design LLC grew its holdings in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC purchased a new position in Deere & Company during the fourth quarter worth $28,000. Rakuten Securities Inc. purchased a new position in Deere & Company during the fourth quarter worth $28,000. Finally, Naples Money Management LLC acquired a new position in shares of Deere & Company in the fourth quarter worth $29,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

About Deere & Company

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.