Deere & Company (NYSE:DE) Trading 1% Higher

Deere & Company (NYSE:DE) was up 1% during mid-day trading on Tuesday . The company traded as high as $405.62 and last traded at $403.64. Approximately 238,297 shares traded hands during trading, a decline of 84% from the average daily volume of 1,473,313 shares. The stock had previously closed at $399.61.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DE shares. Wells Fargo & Company dropped their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Melius Research reissued a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Evercore ISI boosted their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average price of $386.62 and a 200-day moving average price of $383.47. The firm has a market capitalization of $109.85 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.49 and a beta of 1.04.

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 the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $6.55 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a $1.47 dividend. 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 (DPR) is 17.12%.

Institutional Investors Weigh In On Deere & Company

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Briaud Financial Planning Inc acquired a new stake in Deere & Company in the third quarter worth approximately $25,000. Rakuten Securities Inc. bought a new position in shares of Deere & Company in the fourth quarter valued at $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Deere & Company in the fourth quarter valued at $29,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.