Deere & Company (NYSE:DE) Trading Down 1.4%

Deere & Company (NYSE:DE) traded down 1.4% during mid-day trading on Tuesday . The stock traded as low as $393.60 and last traded at $395.34. 190,890 shares were traded during trading, a decline of 87% from the average session volume of 1,449,519 shares. The stock had previously closed at $400.96.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stifel Nicolaus decreased their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Wells Fargo & Company decreased their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Evercore ISI increased their price target on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Performance

The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The business has a fifty day simple moving average of $388.66 and a 200-day simple moving average of $383.65. The firm has a market cap of $108.95 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the business earned $6.55 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business 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 of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.50%. Deere & Company’s dividend payout ratio is currently 17.12%.

Hedge Funds Weigh In On Deere & Company

Large investors have recently modified their holdings of the stock. Morgan Stanley increased its stake in Deere & Company by 1.3% during the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. FMR LLC grew its holdings in shares of Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after buying an additional 269,571 shares during the last quarter. Parnassus Investments LLC increased its position in shares of Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after acquiring an additional 705,771 shares in the last quarter. Norges Bank purchased a new position in Deere & Company in the 4th quarter worth approximately $1,248,036,000. Finally, Northern Trust Corp lifted its position in Deere & Company by 2.5% in the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after acquiring an additional 73,601 shares in the last quarter. Hedge funds and other 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.