Deere & Company (NYSE:DE) Receives $642.98 Consensus Price Target from Analysts

Shares of Deere & Company (NYSE:DE) have been assigned a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $641.9750.

Several analysts have recently weighed in on DE shares. Citigroup raised their price objective on shares of Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. 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. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. dropped their price target on Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday. Finally, DA Davidson reiterated a “buy” rating and issued a $685.00 price objective on shares of Deere & Company in a report on Friday, July 17th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Key Capital Management INC purchased a new stake in shares of Deere & Company in the 4th quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Deere & Company in the 2nd quarter worth $27,000. Kilter Group LLC purchased a new position in Deere & Company in the 2nd quarter worth $29,000. Timmons Wealth Management LLC bought a new stake in Deere & Company in the fourth quarter worth $29,000. Finally, McIlrath & Eck LLC bought a new stake in Deere & Company in the fourth quarter worth $30,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 0.6%

DE stock opened at $608.73 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company’s 50 day moving average is $603.23 and its 200 day moving average is $587.77. The stock has a market cap of $164.32 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 2.59 and a beta of 0.90. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the business posted $6.64 earnings per share. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.