Deere & Company (NYSE:DE) Trading 1.1% Higher

Deere & Company (NYSE:DE)’s stock price traded up 1.1% on Thursday . The stock traded as high as $401.62 and last traded at $401.05. 215,160 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,482,925 shares. The stock had previously closed at $396.88.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Truist Financial started coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Melius Research reiterated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Finally, Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Stock Up 0.3 %

The firm has a market cap of $110.85 billion, a price-to-earnings ratio of 11.68, 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. The firm has a 50 day moving average price of $385.17 and a 200-day moving average price of $382.66.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. 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 previous year, the company posted $6.55 EPS. The business’s revenue was down 8.0% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DE. Tompkins Financial Corp grew its holdings in Deere & Company by 2.6% in the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after buying an additional 25 shares during the period. Essex Savings Bank grew its holdings in shares of Deere & Company by 0.5% during the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. grew its holdings in shares of Deere & Company by 1.5% during the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 27 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares during the period. Finally, Simplicity Solutions LLC grew its holdings in shares of Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds 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.