Deere & Company (NYSE:DE) Reaches New 1-Year High – Should You Buy?

Deere & Company (NYSE:DE) reached a new 52-week high on Wednesday . The company traded as high as $545.32 and last traded at $543.9520, with a volume of 1605258 shares changing hands. The stock had previously closed at $532.25.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $560.00 target price on shares of Deere & Company in a report on Tuesday, December 9th. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Oppenheimer upped their target price on Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a report on Friday, November 28th. Wolfe Research increased their target price on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Finally, Royal Bank Of Canada dropped their price target on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, November 28th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $524.20.

Deere & Company Price Performance

The stock has a market capitalization of $147.45 billion, a P/E ratio of 29.39, a PEG ratio of 2.12 and a beta of 1.02. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The business has a fifty day simple moving average of $488.99 and a 200-day simple moving average of $482.68.

Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the previous year, the firm earned $4.55 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.2%. Deere & Company’s dividend payout ratio is presently 35.01%.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the transaction, the chief executive officer owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,578 shares of company stock worth $32,471,682 over the last ninety days. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Deere & Company

Hedge funds have recently added to or reduced their stakes in the stock. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company during the second quarter valued at approximately $25,000. Strategic Advocates LLC bought a new position in Deere & Company during the 3rd quarter valued at $25,000. Howard Hughes Medical Institute purchased a new position in Deere & Company during the 2nd quarter worth $27,000. Key Capital Management INC bought a new stake in shares of Deere & Company in the 4th quarter worth $27,000. Finally, Activest Wealth Management raised its holdings in shares of Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.