Deere & Company (NYSE:DE) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Deere & Company (NYSE:DE – Get Free Report) has been given an average rating of “Moderate Buy” by the twenty-five analysts that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $686.10.

Several research analysts have commented on DE shares. Oppenheimer upped their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Nomura raised shares of Deere & Company to a “buy” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $570.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $640.00 to $800.00 in a research report on Monday, August 31st. Finally, Evercore upgraded Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price target on the stock in a research note on Wednesday, September 2nd.

View Our Latest Stock Report on DE

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Deere & Company during the 2nd quarter valued at $11,763,504,000. State Street Corp raised its stake in shares of Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock worth $4,898,717,000 after purchasing an additional 97,049 shares during the last quarter. Capital World Investors lifted its holdings in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Deere & Company by 84.3% during the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after purchasing an additional 1,412,694 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Deere & Company during the second quarter valued at $1,685,093,000. Institutional investors own 68.58% of the company’s stock.

Key Deere & Company News

Here are the key news stories impacting Deere & Company this week:

  • Positive Sentiment: John Deere and Yamaha Motor agreed to collaborate on future side-by-side vehicles, combining Yamaha’s powertrain and vehicle-design expertise with Deere’s vehicle-development capabilities and U.S. manufacturing footprint. The partnership could support Deere’s recreational-vehicle product pipeline, although financial details and the timing of any revenue contribution were not disclosed. Yamaha Motor and John Deere Announce Collaboration on Future Side-by-Side Vehicles
  • Neutral Sentiment: Deere remains identified as an agriculture-technology and precision-farming company benefiting from long-term trends toward smarter, more automated food production. However, the article offers no new company-specific financial guidance or catalyst likely to materially change near-term earnings expectations. AgTech & Food Innovation Stocks Driving Smarter Food Systems
  • Negative Sentiment: The Federal Trade Commission and U.S. Department of Agriculture are seeking public input on possible barriers to purchasing, servicing and repairing agricultural equipment. The inquiry raises concerns about competition, equipment access and repair practices, potentially creating regulatory, legal or business-model risks for Deere and other manufacturers. Caterpillar and Deere Stock Fall as Regulatory Pressure Continues
  • Negative Sentiment: Long-term Treasury yields reached levels not seen in more than two decades, pressuring manufacturers that sell expensive machinery often financed by customers. Higher borrowing costs can reduce equipment affordability and demand while contributing to a wider industrial-stock selloff. Caterpillar Drops 6% as Industrials Sell Off With Long Yields at a Two-Decade High; Deere Falls 4%, PACCAR Eases

Deere & Company Stock Down 3.8%

Shares of NYSE DE opened at $656.94 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. Deere & Company has a 52 week low of $433.00 and a 52 week high of $721.22. The firm’s fifty day moving average is $653.35 and its 200 day moving average is $608.66. The company has a market cap of $177.12 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 2.50 and a beta of 0.86.

Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter in the prior year, the company posted $4.75 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 18.12 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Deere & Company Company Profile

(Get Free Report)

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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