Deere & Company (NYSE:DE) had its price objective cut by Citigroup from $155.00 to $145.00 in a research note published on Wednesday morning, The Fly reports. They currently have a neutral rating on the industrial products company’s stock.
DE has been the subject of a number of other reports. Telsey Advisory Group upgraded shares of Deere & Company from a market perform rating to an outperform rating in a report on Friday, March 27th. JPMorgan Chase & Co. upgraded shares of Deere & Company from an underweight rating to a neutral rating and set a $140.00 target price for the company in a report on Friday, March 27th. They noted that the move was a valuation call. Robert W. Baird downgraded shares of Deere & Company from an outperform rating to a neutral rating and set a $150.00 target price for the company. in a report on Monday, April 13th. Wells Fargo & Co lowered their target price on shares of Deere & Company from $160.00 to $145.00 and set an equal weight rating for the company in a report on Thursday, April 16th. Finally, Goldman Sachs Group lowered their target price on shares of Deere & Company from $208.00 to $182.00 and set a buy rating for the company in a report on Thursday, March 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Deere & Company currently has an average rating of Buy and a consensus price target of $168.04.
Shares of NYSE:DE traded down $2.10 during trading on Wednesday, reaching $140.71. The stock had a trading volume of 3,426,656 shares, compared to its average volume of 1,765,039. The business has a fifty day moving average price of $137.27 and a 200-day moving average price of $157.92. The company has a quick ratio of 1.84, a current ratio of 2.12 and a debt-to-equity ratio of 2.55. The stock has a market cap of $44.79 billion, a P/E ratio of 13.75, a PEG ratio of 3.35 and a beta of 0.93. Deere & Company has a fifty-two week low of $106.14 and a fifty-two week high of $181.99.
The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.76 per share. The ex-dividend date was Monday, March 30th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.16%. Deere & Company’s payout ratio is currently 30.58%.
Several hedge funds and other institutional investors have recently bought and sold shares of DE. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Deere & Company during the first quarter worth $28,000. Atlas Private Wealth Management acquired a new position in shares of Deere & Company during the fourth quarter worth $29,000. Barnett & Company Inc. lifted its position in shares of Deere & Company by 2,785.7% during the fourth quarter. Barnett & Company Inc. now owns 202 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 195 shares in the last quarter. Solstein Capital LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $35,000. Finally, Danda Trouve Investment Management Inc. acquired a new position in shares of Deere & Company during the fourth quarter worth $35,000. 67.55% of the stock is currently owned by institutional investors and hedge funds.
About Deere & Company
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.
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