Deere & Company (NYSE:DE) Receives $511.76 Average Price Target from Brokerages

Deere & Company (NYSE:DE) has been assigned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $518.7222.

Several equities research analysts recently commented on DE shares. Royal Bank Of Canada started coverage on Deere & Company in a research report on Wednesday. They set an “outperform” rating and a $542.00 price objective on the stock. Wolfe Research dropped their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. DA Davidson dropped their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. Finally, UBS Group set a $535.00 target price on Deere & Company and gave the stock a “buy” rating in a research report on Friday, October 17th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. OLD National Bancorp IN boosted its position in Deere & Company by 2.6% in the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after purchasing an additional 610 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 798 shares during the last quarter. Providence Capital Advisors LLC boosted its position in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after purchasing an additional 303 shares during the last quarter. Bragg Financial Advisors Inc raised its stake in shares of Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after buying an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of Deere & Company in the first quarter worth about $13,588,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.5%

Deere & Company stock opened at $462.28 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The stock has a market capitalization of $124.97 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 2.96 and a beta of 1.02. The business’s fifty day moving average is $470.40 and its 200 day moving average is $487.74.

Deere & Company (NYSE:DE) last released 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 return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the firm posted $6.29 earnings per share. Deere & Company’s revenue was down 9.0% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be 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 is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 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.