Zacks Research Lifts Earnings Estimates for Deere & Company

Deere & Company (NYSE:DE) – Investment analysts at Zacks Research boosted their FY2027 EPS estimates for Deere & Company in a report issued on Thursday, December 19th. Zacks Research analyst M. Das now expects that the industrial products company will earn $23.34 per share for the year, up from their prior forecast of $23.31. The consensus estimate for Deere & Company’s current full-year earnings is $19.52 per share.

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

Other equities analysts also recently issued reports about the company. Oppenheimer increased their target price on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Citigroup boosted their target price on Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley boosted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Thirteen 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 has a consensus rating of “Hold” and a consensus price target of $443.94.

Deere & Company Price Performance

DE stock opened at $432.84 on Monday. The stock has a market cap of $117.55 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 1.91 and a beta of 0.96. 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 50 day simple moving average of $423.87 and a 200 day simple moving average of $395.52. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39.

Institutional Trading of Deere & Company

Several institutional investors and hedge funds have recently bought and sold shares of DE. Stockbridge Partners LLC boosted its position in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after acquiring an additional 1,291 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Chase Investment Counsel Corp grew its position in Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Balentine LLC bought a new stake in Deere & Company during the 3rd quarter valued at about $710,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.50%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

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.