Brokerages Set Deere & Company (NYSE:DE) Target Price at $518.72

Deere & Company (NYSE:DE) has been given an average rating of “Moderate Buy” by the twenty-three research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $518.7222.

DE has been the subject of a number of research reports. Citigroup dropped their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a report on Tuesday. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. DA Davidson reduced their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th.

Institutional Trading of Deere & Company

A number of large investors have recently modified their holdings of DE. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company in the 2nd quarter valued at $25,000. Activest Wealth Management lifted its position in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Howard Hughes Medical Institute acquired a new position in Deere & Company in the second quarter valued at $27,000. Hughes Financial Services LLC purchased a new position in shares of Deere & Company during the first quarter worth about $29,000. Finally, Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company during the second quarter worth about $38,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $479.22 on Monday. The firm’s 50 day moving average price is $466.00 and its 200-day moving average price is $490.69. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The firm has a market cap of $129.55 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share 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 firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the firm earned $6.29 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

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.