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

Deere & Company (NYSE:DEGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $655.45.

A number of research analysts recently weighed in on DE shares. Argus boosted their target price on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Oppenheimer reissued an “outperform” rating and set a $715.00 target price on shares of Deere & Company in a report on Friday, February 20th. Raymond James Financial reissued an “outperform” rating and set a $765.00 target price on shares of Deere & Company in a report on Monday, February 23rd. Wolfe Research boosted their target price on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Finally, Bank of America boosted their target price on Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a report on Friday, February 20th.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Deere & Company by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after buying an additional 198,332 shares in the last quarter. State Street Corp grew its holdings in Deere & Company by 0.9% in the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after buying an additional 97,049 shares in the last quarter. Capital World Investors grew its holdings in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 2.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after buying an additional 158,584 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Deere & Company by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock valued at $2,609,149,000 after buying an additional 17,269 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 3.2%

DE stock opened at $577.20 on Thursday. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $155.91 billion, a PE ratio of 32.54, a PEG ratio of 2.09 and a beta of 0.98. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The business’s 50 day simple moving average is $594.61 and its 200 day simple moving average is $519.97.

Deere & Company (NYSE:DEGet Free Report) last posted its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. The business had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.19 EPS. As a group, research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio is currently 36.53%.

Deere & Company Company Profile

(Get Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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