DA Davidson Trims Deere & Company (NYSE:DE) Target Price to $465.00

Deere & Company (NYSE:DE) had its price target cut by DA Davidson from $483.00 to $465.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for Deere & Company’s Q3 2024 earnings at $5.32 EPS, FY2024 earnings at $25.33 EPS and FY2025 earnings at $27.91 EPS.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus boosted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a buy rating in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $425.00 to $401.00 and set a hold rating on the stock in a research report on Friday, February 16th. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $425.00 to $385.00 and set a neutral rating on the stock in a research report on Friday, May 17th. Daiwa Capital Markets boosted their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an overweight rating in a research report on Wednesday, May 15th. Finally, Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a buy rating and a $494.00 target price on the stock. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of Moderate Buy and an average price target of $432.92.

Deere & Company Stock Performance

Shares of DE opened at $379.24 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock has a market capitalization of $105.57 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.53 and a beta of 1.04. The company’s fifty day moving average is $399.93 and its two-hundred day moving average is $386.42. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $9.65 EPS. On average, sell-side analysts predict that Deere & Company will post 26.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DE. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Deere & Company by 21.6% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,781 shares of the industrial products company’s stock valued at $1,427,000 after acquiring an additional 671 shares during the last quarter. Machina Capital S.A.S. increased its position in Deere & Company by 106.1% during the 3rd quarter. Machina Capital S.A.S. now owns 1,076 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 554 shares in the last quarter. SageView Advisory Group LLC increased its position in Deere & Company by 2.4% during the 3rd quarter. SageView Advisory Group LLC now owns 1,201 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 28 shares in the last quarter. SteelPeak Wealth LLC increased its position in Deere & Company by 4.3% during the 3rd quarter. SteelPeak Wealth LLC now owns 4,802 shares of the industrial products company’s stock worth $1,819,000 after purchasing an additional 200 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Deere & Company by 0.4% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 10,035 shares of the industrial products company’s stock worth $3,749,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds 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.