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

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

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Evercore ISI raised 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. Citigroup reduced their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Morgan Stanley began coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Trading Down 0.2 %

The company has a market capitalization of $111.04 billion, a PE ratio of 11.75, a PEG ratio of 1.50 and a beta of 1.04. The company has a fifty day simple moving average of $386.06 and a 200-day simple moving average of $383.26. 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 announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the previous year, the company posted $6.55 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. Analysts predict that Deere & Company will post 27.4 EPS for the current year.

Deere & Company Dividend Announcement

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

Hedge Funds Weigh In On Deere & Company

A number of hedge funds have recently made changes to their positions in the stock. Tompkins Financial Corp grew its holdings in shares of Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after purchasing an additional 25 shares in the last quarter. Essex Savings Bank increased its position in shares of 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 purchasing an additional 26 shares during the last quarter. Valley National Advisers Inc. raised its holdings in shares of 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 purchasing an additional 27 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares during the last quarter. Finally, Simplicity Solutions LLC grew its stake in shares of Deere & Company by 0.5% during the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.