Deere & Company (NYSE:DE) Receives Average Recommendation of “Hold” from Analysts

Deere & Company (NYSE:DE) has been assigned a consensus recommendation of “Hold” from the twenty research firms that are covering the company, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $442.83.

Several equities analysts recently weighed in on DE shares. Barclays raised their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Oppenheimer increased their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, UBS Group increased their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in shares of Deere & Company by 2.1% during the second quarter. Federated Hermes Inc. now owns 15,896 shares of the industrial products company’s stock valued at $5,939,000 after acquiring an additional 332 shares during the period. Thoroughbred Financial Services LLC lifted its holdings in shares of Deere & Company by 51.6% during the second quarter. Thoroughbred Financial Services LLC now owns 2,720 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 926 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Deere & Company by 12.7% in the second quarter. Envestnet Asset Management Inc. now owns 303,541 shares of the industrial products company’s stock valued at $113,412,000 after buying an additional 34,262 shares during the last quarter. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Deere & Company in the second quarter valued at about $3,714,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

NYSE DE opened at $456.57 on Tuesday. The company has a 50 day simple moving average of $431.48 and a 200-day simple moving average of $402.53. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm has a market capitalization of $124.00 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter last year, the firm earned $8.26 earnings per share. Equities research analysts predict that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.