Deere & Company (NYSE:DE) Stock Price Down 0.6%

Shares of Deere & Company (NYSE:DE) fell 0.6% during trading on Friday . The stock traded as low as $391.56 and last traded at $391.59. 155,682 shares were traded during trading, a decline of 89% from the average session volume of 1,462,332 shares. The stock had previously closed at $394.06.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. Morgan Stanley initiated coverage on shares of Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Citigroup cut their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Price Performance

The stock’s 50-day moving average is $387.20 and its 200-day moving average is $383.54. The firm has a market cap of $109.49 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the previous year, the company earned $6.55 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s dividend payout ratio is currently 17.12%.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors have recently bought and sold shares of the business. CX Institutional boosted its stake in shares of Deere & Company by 327.0% in the 3rd quarter. CX Institutional now owns 7,379 shares of the industrial products company’s stock valued at $2,785,000 after purchasing an additional 5,651 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Deere & Company by 2.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 140,661 shares of the industrial products company’s stock valued at $53,083,000 after purchasing an additional 2,699 shares in the last quarter. Spirit of America Management Corp NY boosted its stake in shares of Deere & Company by 1.2% in the 3rd quarter. Spirit of America Management Corp NY now owns 6,410 shares of the industrial products company’s stock valued at $2,419,000 after purchasing an additional 75 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of Deere & Company by 3.5% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 1,138 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 38 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Deere & Company by 3.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 94,542 shares of the industrial products company’s stock valued at $35,678,000 after purchasing an additional 2,845 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.