Analysts Set Deere & Company (NYSE:DE) Price Target at $680.73

Shares of Deere & Company (NYSE:DE) have been assigned an average recommendation of “Moderate Buy” from the twenty-four research firms that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $680.7250.

DE has been the subject of a number of recent analyst reports. Raymond James Financial boosted their price target on shares of Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Barclays increased their price objective on Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Nomura raised Deere & Company to a “buy” rating in a research note on Monday, August 31st. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd.

Deere & Company Price Performance

Shares of NYSE:DE opened at $677.68 on Friday. The company has a 50 day moving average of $623.48 and a 200 day moving average of $597.82. The stock has a market cap of $182.72 billion, a P/E ratio of 37.65, a P/E/G ratio of 2.79 and a beta of 0.90. Deere & Company has a 12 month low of $433.00 and a 12 month high of $705.88. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the firm posted $4.75 EPS. Deere & Company’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 18.12 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Deere & Company in the 2nd quarter worth approximately $27,000. Kilter Group LLC purchased a new stake in shares of Deere & Company during the 2nd quarter valued at $29,000. Solstein Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter valued at $30,000. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth $32,000. Finally, Markowski Investments purchased a new stake in Deere & Company during the second quarter valued at about $34,000. 68.58% of the stock is currently owned by institutional investors.

About Deere & Company

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.