Deere & Company (NYSE:DE) Coverage Initiated by Analysts at Raymond James

Raymond James started coverage on shares of Deere & Company (NYSE:DE) in a research report sent to investors on Friday morning, MarketBeat reports. The firm issued an outperform rating and a $420.00 price objective on the industrial products company’s stock.

Several other brokerages also recently commented on DE. Truist Financial began coverage on Deere & Company in a research report on Thursday, March 14th. They issued a buy rating and a $494.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a buy rating in a research report on Friday, May 17th. TD Cowen boosted their target price on shares of Deere & Company from $383.00 to $390.00 and gave the stock a hold rating in a report on Friday, May 17th. Oppenheimer reaffirmed an outperform rating and set a $456.00 target price on shares of Deere & Company in a research note on Thursday, May 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $425.00 to $385.00 and set a neutral rating on the stock in a research note on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $430.55.

Deere & Company Trading Down 3.4 %

Shares of DE stock opened at $360.77 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a 12-month low of $353.15 and a 12-month high of $450.00. The stock has a market capitalization of $99.42 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.50 and a beta of 0.93. The firm’s 50 day moving average is $385.32 and its 200 day moving average is $387.29.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period last year, the firm posted $9.65 earnings per share. Research analysts expect that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.63%. Deere & Company’s dividend payout ratio is currently 17.70%.

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 dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $1,248,036,000. International Assets Investment Management LLC boosted its holdings in Deere & Company by 46,241.1% in the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after buying an additional 838,813 shares during the last quarter. Parnassus Investments LLC increased its stake in Deere & Company by 22.4% during the 4th 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 in the last quarter. Swedbank AB acquired a new position in shares of Deere & Company during the first quarter valued at approximately $191,628,000. Finally, Vanguard Group Inc. lifted its position in shares of Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.