Deere & Company (DE) Receives $176.73 Consensus Price Target from Analysts

Shares of Deere & Company (NYSE:DE) have earned a consensus recommendation of “Buy” from the twenty-one analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $174.54.

A number of analysts recently commented on the stock. Bank of America cut shares of Deere & Company from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $173.00 to $170.00 in a research report on Wednesday, February 13th. OTR Global upgraded shares of Deere & Company to a “positive” rating in a research report on Friday, January 18th. Zacks Investment Research cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Wednesday. Credit Suisse Group lowered their price objective on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating for the company in a research report on Tuesday, February 19th. Finally, Citigroup lowered their price objective on shares of Deere & Company from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, February 19th.

Shares of Deere & Company stock opened at $169.05 on Tuesday. The firm has a market cap of $53.69 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. Deere & Company has a 52 week low of $128.32 and a 52 week high of $169.99. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.98 and a quick ratio of 1.68.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.22). The business had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.83 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The business’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, sell-side analysts forecast that Deere & Company will post 11.17 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, March 28th. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.

A number of hedge funds have recently added to or reduced their stakes in DE. Whittier Trust Co. lifted its stake in Deere & Company by 0.3% in the 4th quarter. Whittier Trust Co. now owns 24,423 shares of the industrial products company’s stock valued at $3,643,000 after purchasing an additional 62 shares during the last quarter. Howland Capital Management LLC lifted its position in Deere & Company by 0.4% during the fourth quarter. Howland Capital Management LLC now owns 15,712 shares of the industrial products company’s stock worth $2,344,000 after acquiring an additional 66 shares during the last quarter. Sowell Financial Services LLC lifted its position in Deere & Company by 2.2% during the fourth quarter. Sowell Financial Services LLC now owns 3,060 shares of the industrial products company’s stock worth $457,000 after acquiring an additional 66 shares during the last quarter. First Manhattan Co. lifted its position in Deere & Company by 4.2% during the first quarter. First Manhattan Co. now owns 1,699 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 68 shares during the last quarter. Finally, TRUE Private Wealth Advisors lifted its position in Deere & Company by 3.1% during the fourth quarter. TRUE Private Wealth Advisors now owns 2,505 shares of the industrial products company’s stock worth $375,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 68.25% of the company’s stock.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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