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

Deere & Company (NYSE:DE) shares dropped 0.6% during mid-day trading on Wednesday . The stock traded as low as $393.72 and last traded at $394.98. Approximately 189,078 shares changed hands during trading, a decline of 87% from the average daily volume of 1,470,397 shares. The stock had previously closed at $397.21.

Wall Street Analyst Weigh In

DE has been the topic of several research reports. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Stifel Nicolaus cut their target price 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. Finally, Citigroup cut their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Performance

The stock has a fifty day moving average of $387.20 and a 200-day moving average of $383.54. 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 firm has a market capitalization of $109.67 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.48 and a beta of 1.04.

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

Deere & Company Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC boosted its stake in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares during the period. Briaud Financial Planning Inc bought a new stake in Deere & Company in the 3rd quarter valued at $25,000. Rakuten Securities Inc. bought a new stake in Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC bought a new stake in Deere & Company in the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new stake in Deere & Company in the 4th quarter valued at $29,000. 68.58% of the stock is currently owned by institutional investors.

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.