Analysts Set Deere & Company (NYSE:DE) Target Price at $166.06

Deere & Company (NYSE:DE) has received a consensus recommendation of “Hold” from the twenty-four ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $166.06.

Several analysts recently commented on DE shares. Barclays reiterated a “buy” rating and issued a $167.00 price target on shares of Deere & Company in a research report on Monday, July 15th. Wells Fargo & Co downgraded shares of Deere & Company from an “outperform” rating to a “market perform” rating and set a $170.00 price target for the company. in a research report on Thursday, September 12th. Jefferies Financial Group upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and upped their price target for the company from $150.00 to $190.00 in a research report on Monday, June 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $175.00 price target (down previously from $195.00) on shares of Deere & Company in a research report on Monday, May 27th. Finally, Morgan Stanley upped their price target on shares of Deere & Company from $172.00 to $177.00 and gave the company an “overweight” rating in a research report on Monday, August 19th.

Shares of Deere & Company stock traded down $0.47 during trading hours on Friday, hitting $163.97. The company had a trading volume of 76,447 shares, compared to its average volume of 1,724,200. The company’s 50-day moving average is $155.26 and its two-hundred day moving average is $157.54. Deere & Company has a twelve month low of $128.32 and a twelve month high of $171.22. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.73. The company has a market cap of $51.78 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.35 and a beta of 1.15.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The business had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same quarter last year, the company earned $2.59 EPS. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 9.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $0.76 per share. The ex-dividend date is Friday, September 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.85%. Deere & Company’s payout ratio is currently 32.37%.

In other Deere & Company news, COO John C. May II sold 5,228 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the transaction, the chief operating officer now owns 49,310 shares in the company, valued at approximately $8,382,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. SRS Capital Advisors Inc. purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $28,000. Arcus Capital Partners LLC purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $33,000. Orrstown Financial Services Inc. increased its holdings in shares of Deere & Company by 116.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Nelson Roberts Investment Advisors LLC increased its holdings in shares of Deere & Company by 34.8% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 70 shares in the last quarter. Finally, Heritage Wealth Advisors purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $47,000. Institutional investors own 67.53% of the company’s stock.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

Further Reading: Are sell-side analysts objective?

Analyst Recommendations for Deere & Company (NYSE:DE)

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