Deere & Company (NYSE:DE) Trading Down 0.7%

Deere & Company (NYSE:DE)’s share price fell 0.7% during trading on Monday . The stock traded as low as $392.18 and last traded at $397.60. 362,943 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 1,481,221 shares. The stock had previously closed at $400.32.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DE. Deutsche Bank Aktiengesellschaft decreased 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. Citigroup cut their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. 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. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Morgan Stanley started coverage on Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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 simple moving average of $385.86 and a 200-day simple moving average of $383.09. The stock has a market capitalization of $111.80 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.50 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 earnings per share (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 for the quarter, compared to analyst estimates of $10.30 billion. During the same period in the previous year, the firm earned $6.55 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts expect that Deere & Company will post 27.4 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.46%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors have recently modified their holdings of DE. True Wealth Design LLC raised its position 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 buying an additional 59 shares during the last quarter. Briaud Financial Planning Inc bought a new position in Deere & Company in the 3rd quarter valued at $25,000. Rakuten Securities Inc. bought a new position in Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC bought a new position in Deere & Company in the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new position in Deere & Company in the 4th quarter valued at $29,000. 68.58% of the stock is 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.