Deere & Company (NYSE:DE) Stock Price Down 0.2%

Shares of Deere & Company (NYSE:DE) traded down 0.2% during trading on Wednesday . The stock traded as low as $386.64 and last traded at $393.01. 1,865,373 shares traded hands during mid-day trading, an increase of 46% from the average session volume of 1,279,511 shares. The stock had previously closed at $393.80.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stifel Nicolaus decreased their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Finally, Truist Financial assumed coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The company’s fifty day simple moving average is $385.47 and its two-hundred day simple moving average is $382.79. The stock has a market cap of $111.51 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the company posted $6.55 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 27.39 earnings per share for the current year.

Deere & Company Dividend Announcement

The company 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 is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s payout ratio is 17.12%.

Hedge Funds Weigh In On Deere & Company

Several institutional investors have recently added to or reduced their stakes in DE. Moneta Group Investment Advisors LLC grew its position in Deere & Company by 104,373.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after buying an additional 3,216,801 shares during the period. Norges Bank purchased a new stake in shares of Deere & Company during the fourth quarter worth $1,248,036,000. Viking Global Investors LP purchased a new stake in shares of Deere & Company during the fourth quarter worth $562,442,000. International Assets Investment Management LLC increased its holdings in shares of Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after purchasing an additional 838,813 shares during the period. Finally, Parnassus Investments LLC increased its holdings in shares of Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares during the period. Institutional investors own 68.58% of the company’s stock.

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.