Deere & Company (NYSE:DE) Stock Has Average Price Target of $686.10 According to Brokerages

Shares of Deere & Company (NYSE:DE) have been given a consensus rating of “Moderate Buy” by the twenty-five research firms that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $686.10.

Several equities analysts recently issued reports on DE shares. UBS Group reduced their price target on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, September 21st. Raymond James Financial increased their price objective on Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Nomura upgraded shares of Deere & Company to a “buy” rating in a report on Monday, August 31st. Finally, Citigroup lifted their target price on shares of Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st.

More Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Construction and compact equipment provide growth: Deere reported that stronger performance in construction machinery and small equipment is helping offset softer demand for large agricultural equipment. The improving revenue mix suggests diversification may support results while the farm-equipment cycle remains weak. Deere Finds Growth In Construction And Small Equipment
• Positive Sentiment: Recent market outperformance and investor attention: Deere outpaced the broader stock market in the latest session, keeping the company in focus among investors. Its digital-growth narrative, favorable average brokerage recommendation and strong longer-term performance are contributing to positive sentiment. Why Deere Outpaced the Stock Market Today
• Neutral Sentiment: Analyst support is tempered by valuation: Wall Street’s average recommendation is broadly favorable, but the company carries a Zacks Rank of Hold. Deere’s recent earnings beat and improved outlook remain supportive, although investors appear to be weighing those positives against a relatively elevated earnings multiple. Wall Street Analysts Think Deere Is a Good Investment
• Negative Sentiment: Agriculture-cycle and market risks persist: Weak farm fundamentals continue to pressure demand for large agricultural machinery. Earlier selling pressure was attributed to profit-taking and broader industrial-stock weakness as Treasury yields rose, while the median reported analyst price target of $646.25 is below the latest trading level. Why Deere Stock Is Down Today
• Negative Sentiment: Insider selling is a cautionary signal: Reported insider activity over the past six months consisted of sales rather than purchases, which may reinforce concerns about limited near-term upside after the stock’s strong advance.

Deere & Company Stock Up 2.9%

Shares of NYSE:DE opened at $686.77 on Thursday. The stock’s 50-day moving average price is $650.46 and its 200-day moving average price is $606.24. Deere & Company has a 12-month low of $433.00 and a 12-month high of $721.22. The stock has a market capitalization of $185.17 billion, a P/E ratio of 38.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.86. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.75 earnings per share. On average, equities analysts anticipate that Deere & Company will post 18.12 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently modified their holdings of the company. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co raised its stake in shares of Deere & Company by 3.2% during the 2nd quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co now owns 516 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 16 shares during the period. Anchyra Partners LLC grew its position in Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 17 shares during the period. William B. Walkup & Associates Inc. grew its position in Deere & Company by 0.6% during the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after buying an additional 17 shares during the period. Concorde Asset Management LLC increased its holdings in Deere & Company by 3.0% during the second quarter. Concorde Asset Management LLC now owns 581 shares of the industrial products company’s stock worth $369,000 after buying an additional 17 shares during the last quarter. Finally, MCF Advisors LLC increased its holdings in Deere & Company by 0.9% during the second quarter. MCF Advisors LLC now owns 1,999 shares of the industrial products company’s stock worth $1,271,000 after buying an additional 17 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

About Deere & Company

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.