Robert W. Baird Cuts Deere & Company (NYSE:DE) Price Target to $467.00

Deere & Company (NYSE:DE) had its target price reduced by Robert W. Baird from $488.00 to $467.00 in a report released on Monday morning,MarketScreener reports. They currently have a neutral rating on the industrial products company’s stock.

DE has been the subject of several other research reports. Evercore ISI set a $491.00 price target on shares of Deere & Company in a report on Tuesday, August 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. Truist Financial boosted their price target on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Oppenheimer dropped their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $511.76.

Deere & Company Stock Up 0.1%

DE stock opened at $448.62 on Monday. The firm has a 50 day moving average of $475.28 and a 200 day moving average of $487.71. The stock has a market capitalization of $121.28 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the previous year, the business posted $6.29 EPS. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio is currently 33.87%.

Institutional Trading of Deere & Company

Several hedge funds have recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Deere & Company by 30.6% during the 1st quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company’s stock worth $1,753,000 after buying an additional 876 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Deere & Company by 0.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,020 shares of the industrial products company’s stock valued at $42,250,000 after buying an additional 826 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Deere & Company by 34.7% in the 1st quarter. Ritholtz Wealth Management now owns 4,606 shares of the industrial products company’s stock valued at $2,162,000 after buying an additional 1,187 shares during the last quarter. Finally, Mission Wealth Management LP raised its stake in Deere & Company by 7.7% during the 1st quarter. Mission Wealth Management LP now owns 5,206 shares of the industrial products company’s stock worth $2,443,000 after acquiring an additional 373 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.