Brokerages Set Deere & Company (NYSE:DE) PT at $680.73

Shares of Deere & Company (NYSE:DE) have earned an average rating of “Moderate Buy” from the twenty-four ratings firms that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $680.7250.

A number of research firms have commented on DE. Seaport Research Partners set a $570.00 price target on Deere & Company in a research report on Friday, August 14th. Truist Financial cut their price objective on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research report on Monday, August 24th. Bank of America reduced their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Oppenheimer upped their target price on Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. Finally, Weiss Ratings lowered Deere & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd.

Deere & Company Trading Down 0.2%

Shares of DE opened at $676.25 on Friday. The stock has a market capitalization of $182.33 billion, a P/E ratio of 37.57, a PEG ratio of 2.79 and a beta of 0.90. Deere & Company has a twelve month low of $433.00 and a twelve month high of $705.88. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The firm has a fifty day simple moving average of $624.58 and a two-hundred day simple moving average of $598.36.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.69 by $0.41. The firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.75 earnings per share. On average, research analysts anticipate that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s payout ratio is currently 36.00%.

Institutional Trading of Deere & Company

Large investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in Deere & Company by 60,460.4% in the second quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company’s stock worth $148,804,949,000 after purchasing an additional 234,198,659 shares during the period. BlackRock Inc. purchased a new position in Deere & Company during the second quarter valued at $11,763,504,000. Norges Bank purchased a new position in Deere & Company during the fourth quarter valued at $1,715,633,000. Capital World Investors boosted its holdings in shares of Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Deere & Company during the 2nd quarter valued at $1,685,093,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.