Brokerages Set Deere & Company (NYSE:DE) PT at $639.58

Shares of Deere & Company (NYSE:DE) have received a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $639.5750.

DE has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup lowered their target price on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Strategic Advocates LLC acquired a new position in shares of Deere & Company during the third quarter worth about $25,000. Portus Wealth Advisors LLC acquired a new position in shares of Deere & Company during the first quarter worth about $32,000. Key Capital Management INC acquired a new position in shares of Deere & Company during the fourth quarter worth about $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $29,000. Finally, McIlrath & Eck LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $30,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $627.25 on Tuesday. The company has a market capitalization of $169.32 billion, a PE ratio of 35.54, a PEG ratio of 2.27 and a beta of 0.92. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock’s fifty day simple moving average is $575.37 and its 200 day simple moving average is $559.08.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.64 EPS. On average, research analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

About Deere & Company

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.