Deere & Company (NYSE:DE) Trading Up 1%

Deere & Company (NYSE:DE)’s stock price was up 1% during trading on Thursday . The company traded as high as $391.82 and last traded at $391.37. Approximately 398,189 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,453,001 shares. The stock had previously closed at $387.50.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Evercore ISI lifted their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Stifel Nicolaus decreased their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Price 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 company’s fifty day moving average is $390.73 and its two-hundred day moving average is $383.84. The firm has a market capitalization of $111.61 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.55 EPS. Equities research analysts anticipate that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Institutional Investors Weigh In On Deere & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Deere & Company in the fourth quarter valued at $1,248,036,000. International Assets Investment Management LLC raised its stake in shares of Deere & Company by 46,241.1% during the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after purchasing an additional 838,813 shares during the period. 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 buying an additional 705,771 shares during the period. FMR LLC lifted its stake in Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after purchasing an additional 269,571 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Deere & Company by 11.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after buying an additional 160,369 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Company Profile

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.