Deere & Company (NYSE:DE) Receives Consensus Recommendation of “Hold” from Brokerages

Deere & Company (NYSE:DE) has earned a consensus rating of “Hold” from the twenty research firms that are covering the firm, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $446.17.

DE has been the topic of several research analyst reports. UBS Group boosted their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Citigroup reduced their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Truist Financial lifted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently made changes to their positions in DE. Pineridge Advisors LLC grew its holdings in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter worth approximately $32,000. Modus Advisors LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $35,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.5 %

Shares of NYSE:DE opened at $476.53 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The firm has a fifty day moving average price of $445.46 and a two-hundred day moving average price of $414.70. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company has a market cap of $129.78 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period last year, the firm posted $8.26 EPS. Analysts anticipate that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 25.31%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.