Deere & Company (NYSE:DE) Trading Down 0.6%

Deere & Company (NYSE:DE)’s share price dropped 0.6% during trading on Wednesday . The company traded as low as $393.72 and last traded at $394.98. Approximately 189,078 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,470,397 shares. The stock had previously closed at $397.21.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Wells Fargo & Company dropped their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Truist Financial started 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. Evercore ISI upped their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Price Performance

The firm’s fifty day simple moving average is $386.42 and its two-hundred day simple moving average is $383.39. 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 firm has a market cap of $109.85 billion, a PE ratio of 11.50, a P/E/G ratio of 1.50 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the firm posted $6.55 EPS. Deere & Company’s revenue was down 8.0% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s dividend payout ratio is currently 17.12%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Tompkins Financial Corp increased its stake in Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 25 shares during the period. Essex Savings Bank increased its stake in Deere & Company by 0.5% during the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares during the period. Global Retirement Partners LLC increased its stake in Deere & Company by 0.7% during the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. increased its stake in shares of Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after buying an additional 27 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in shares of Deere & Company by 0.5% during the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

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.