Deere & Company (NYSE:DE) Shares Up 1.1%

Deere & Company (NYSE:DE) rose 1.1% during trading on Thursday . The company traded as high as $401.62 and last traded at $401.05. Approximately 215,160 shares changed hands during trading, a decline of 85% from the average daily volume of 1,482,925 shares. The stock had previously closed at $396.88.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Truist Financial initiated coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Morgan Stanley assumed coverage on Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Finally, Stifel Nicolaus cut their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Price Performance

The stock has a market cap of $111.45 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04. The stock has a fifty day simple moving average of $385.86 and a 200-day simple moving average of $382.97. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same quarter last year, the firm posted $6.55 EPS. The company’s revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts expect that Deere & Company will post 27.4 EPS for the current year.

Deere & Company Dividend Announcement

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 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is presently 17.12%.

Institutional Trading of Deere & Company

Several institutional investors have recently modified their holdings of DE. Tompkins Financial Corp boosted its stake in Deere & Company by 2.6% in the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after buying an additional 25 shares in the last quarter. Essex Savings Bank boosted its stake in Deere & Company by 0.5% in the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after buying an additional 26 shares in the last quarter. Valley National Advisers Inc. boosted its stake in Deere & Company by 1.5% in the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after buying an additional 27 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Deere & Company by 0.5% in the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its stake in Deere & Company by 0.5% in the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares in the last quarter. Institutional investors and hedge funds 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.