Deere & Company (NYSE:DE) Trading Down 1.4%

Deere & Company (NYSE:DE)’s stock price dropped 1.4% on Tuesday . The company traded as low as $393.60 and last traded at $395.34. Approximately 190,890 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,449,519 shares. The stock had previously closed at $400.96.

Analyst Upgrades and Downgrades

DE has been the subject of several recent research reports. Citigroup reduced their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Evercore ISI raised their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Morgan Stanley started coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Trading Down 2.4 %

The firm has a 50-day moving average of $388.66 and a two-hundred day moving average of $383.65. The firm has a market capitalization of $108.95 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.48 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last issued 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 business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the firm earned $6.55 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.50%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Institutional Trading of Deere & Company

Several institutional investors have recently modified their holdings of the business. Morgan Stanley increased its position in Deere & Company by 1.3% during the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares during the period. FMR LLC increased its position in shares of Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after buying an additional 269,571 shares during the period. Parnassus Investments LLC raised its stake in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares during the last quarter. Norges Bank acquired a new position in Deere & Company in the fourth quarter valued at $1,248,036,000. Finally, Northern Trust Corp boosted its position in Deere & Company by 2.5% during the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after acquiring an additional 73,601 shares during the last quarter. Institutional investors 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.