Deere & Company (NYSE:DE) Lowered to “Hold” at StockNews.com

Posted by on Apr 11th, 2023

StockNews.com downgraded shares of Deere & Company (NYSE:DE – Get Rating) from a buy rating to a hold rating in a report issued on Monday morning.

Other equities analysts have also recently issued research reports about the stock. Sanford C. Bernstein raised their price target on shares of Deere & Company from $364.00 to $398.00 and gave the company a market perform rating in a research report on Tuesday, February 21st. Wells Fargo & Company raised their target price on shares of Deere & Company from $485.00 to $510.00 and gave the company an overweight rating in a report on Monday, February 20th. Argus increased their price objective on shares of Deere & Company from $475.00 to $485.00 and gave the company a buy rating in a research report on Tuesday, February 21st. Stifel Nicolaus lifted their price target on Deere & Company from $475.00 to $477.00 and gave the stock a buy rating in a report on Monday, December 19th. Finally, Robert W. Baird increased their price objective on Deere & Company from $470.00 to $512.00 and gave the company an outperform rating in a report on Friday, February 17th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $459.86.

Deere & Company Trading Up 2.1 %

Shares of NYSE:DE opened at $377.33 on Monday. Deere & Company has a 52-week low of $283.81 and a 52-week high of $448.40. The company has a quick ratio of 1.76, a current ratio of 2.07 and a debt-to-equity ratio of 1.64. The stock has a market cap of $111.81 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.98 and a beta of 1.04. The business has a 50-day moving average price of $407.21 and a 200-day moving average price of $406.90.

Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings results on Friday, February 17th. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $1.02. The company had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.14 billion. Deere & Company had a return on equity of 41.17% and a net margin of 14.71%. Deere & Company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.92 earnings per share. Equities analysts predict that Deere & Company will post 30.58 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 8th. Investors of record on Friday, March 31st will be given a dividend of $1.25 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, March 30th. Deere & Company’s dividend payout ratio is currently 18.55%.

Institutional Trading of Deere & Company

Several institutional investors have recently added to or reduced their stakes in DE. Vanguard Group Inc. increased its stake in shares of Deere & Company by 1.0% in the third quarter. Vanguard Group Inc. now owns 22,093,821 shares of the industrial products company’s stock valued at $7,376,906,000 after purchasing an additional 208,053 shares during the period. Geode Capital Management LLC lifted its stake in Deere & Company by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,792,394 shares of the industrial products company’s stock worth $2,050,356,000 after acquiring an additional 72,865 shares in the last quarter. Morgan Stanley grew its position in Deere & Company by 13.8% in the fourth quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock worth $1,962,085,000 after acquiring an additional 554,133 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in Deere & Company by 104,373.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after purchasing an additional 3,216,801 shares during the period. Finally, Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $1,326,177,000. Institutional investors own 75.72% of the company’s stock.

Deere & Company Company Profile

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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.

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