Brokerages Set Deere & Company (NYSE:DE) Target Price at $414.11

Deere & Company (NYSE:DE) has been assigned a consensus rating of “Hold” from the twenty-one research firms that are covering the firm, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $409.88.

Several analysts recently commented on DE shares. Oppenheimer cut their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets assumed coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its holdings in shares of Deere & Company by 20.5% in 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 purchasing an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Deere & Company by 27.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after purchasing an additional 372 shares in the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of Deere & Company by 857.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock valued at $3,061,000 after purchasing an additional 6,855 shares in the last quarter. Aviance Capital Partners LLC purchased a new position in shares of Deere & Company in the first quarter valued at $2,783,000. Finally, Oxford Financial Group LTD. LLC grew its holdings in shares of Deere & Company by 2.9% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 51 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of NYSE DE opened at $397.91 on Wednesday. The firm’s 50-day moving average price is $373.48 and its 200-day moving average price is $382.05. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $109.65 billion, a PE ratio of 11.98, a PEG ratio of 1.29 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 earnings per share. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, analysts anticipate that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

About Deere & Company

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.