Deere & Company (NYSE:DE) Shares Gap Down – Should You Sell?

Shares of Deere & Company (NYSE:DE) gapped down prior to trading on Thursday . The stock had previously closed at $476.56, but opened at $454.50. Deere & Company shares last traded at $462.95, with a volume of 678,543 shares.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Citigroup raised their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Oppenheimer raised their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $448.72.

Deere & Company Stock Up 3.0 %

The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company’s fifty day moving average is $446.95 and its 200-day moving average is $416.21. The company has a market cap of $130.77 billion, a PE ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. On average, analysts predict that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Robertson Stephens Wealth Management LLC increased its holdings in Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 22 shares during the last quarter. DLK Investment Management LLC increased its holdings in shares of Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after buying an additional 24 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after buying an additional 24 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after buying an additional 24 shares during the last quarter. Finally, Mattern Wealth Management LLC increased its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.