Deere & Company (NYSE:DE) Receives $515.19 Average Price Target from Brokerages

Shares of Deere & Company (NYSE:DE) have been assigned a consensus rating of “Hold” from the twenty-one research firms that are presently covering the company, MarketBeat reports. Twelve investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $515.19.

A number of research analysts have recently commented on DE shares. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Evercore ISI increased their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a research report on Monday, May 19th. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Finally, Oppenheimer increased their price target on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a report on Friday, May 16th.

Deere & Company Price Performance

Shares of NYSE:DE opened at $523.08 on Friday. The firm has a fifty day moving average price of $490.87 and a 200 day moving average price of $469.33. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The firm has a market cap of $141.67 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 3.33 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 EPS. The business’s revenue was down 17.9% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. Deere & Company’s payout ratio is 31.35%.

Institutional Trading of Deere & Company

Several institutional investors and hedge funds have recently modified their holdings of DE. Assenagon Asset Management S.A. raised its position in Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after purchasing an additional 5,053 shares in the last quarter. Banque Pictet & Cie SA raised its holdings in shares of Deere & Company by 2.0% in the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock valued at $33,165,000 after purchasing an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC raised its stake in Deere & Company by 2.9% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after buying an additional 1,407 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Deere & Company in the fourth quarter worth approximately $847,000. Finally, BankPlus Trust Department bought a new position in Deere & Company in the fourth quarter worth approximately $1,127,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.