Deere & Company (NYSE:DE) Trading Down 1.8%

Shares of Deere & Company (NYSE:DE) traded down 1.8% on Thursday . The stock traded as low as $384.14 and last traded at $387.59. 357,680 shares were traded during trading, a decline of 76% from the average session volume of 1,466,361 shares. The stock had previously closed at $394.62.

Analysts Set New Price Targets

Several research firms have issued reports on DE. Wells Fargo & Company dropped their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Stifel Nicolaus dropped their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Finally, Evercore ISI lifted their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Trading Down 0.2 %

The business has a 50-day simple moving average of $386.62 and a two-hundred day simple moving average of $383.47. The stock has a market cap of $109.66 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.49 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

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

Deere & Company Announces Dividend

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

Institutional Investors Weigh In On Deere & Company

A number of institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its stake in shares of Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after buying an additional 65,006 shares during the period. FMR LLC raised its position in Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after purchasing an additional 269,571 shares in the last quarter. Parnassus Investments LLC raised its position in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Norges Bank acquired a new position in Deere & Company during the fourth quarter valued at approximately $1,248,036,000. Finally, Northern Trust Corp increased its holdings in shares of Deere & Company by 2.5% during the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock worth $1,155,430,000 after buying an additional 73,601 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.