Deere & Company (NYSE:DE) Stock Price Down 1.8%

Deere & Company (NYSE:DE)’s stock price was down 1.8% during mid-day trading on Thursday . The company traded as low as $384.14 and last traded at $387.59. Approximately 357,680 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,466,361 shares. The stock had previously closed at $394.62.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DE shares. Stifel Nicolaus reduced their price objective 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. Wells Fargo & Company reduced their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Citigroup dropped their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their target price on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Down 0.2 %

The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average of $387.86 and a 200-day moving average of $383.61. The company has a market capitalization of $109.49 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted 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. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.55 EPS. On average, equities analysts predict that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business 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 $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s payout ratio is 17.12%.

Institutional Trading of Deere & Company

Hedge funds have recently modified their holdings of the stock. Tompkins Financial Corp boosted its position in Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 25 shares in the last quarter. Essex Savings Bank boosted its position in Deere & Company by 0.5% during the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares in the last quarter. Global Retirement Partners LLC boosted its position in Deere & Company by 0.7% during the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after purchasing an additional 26 shares in the last quarter. Valley National Advisers Inc. boosted its position in Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 27 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Deere & Company by 0.5% during the fourth 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 in the last quarter. Hedge funds and other institutional investors 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.